AGM approves new object clause for electronics and mobile business, higher borrowing and related party limits

Shareholders at the 33rd AGM (Sept 29, 2026) passed all resolutions.

Thu 1 Oct 2026

Borrowing Powers Approved

Rs. 300,00,00,000/-

Section 186 Limit Approved

Rs. 50,00,00,000/-

Section 185 Limit Approved

Rs. 25,00,00,000/-

Related Party Transaction Limit

₹25,00,00,000/- till next AGM

New Business Line

Computer software & hardware, consumer electronics, mobile phones, mobile accessories and allied products

What happened

Based on the Scrutinizer's report dated October 01, 2026, all resolutions in the AGM notice were passed with the requisite majority at the 33rd Annual General Meeting held on Tuesday, September 29, 2026 at the company's registered office in Sohna, Haryana.

Change in objects

The Object Clause of the Memorandum of Association was altered by substituting existing Clause III(A) and Clause III(B) in their entirety with revised clauses, to enable the company to undertake a new line of business in computer software and hardware, consumer electronics, mobile phones, mobile accessories and allied products, and matters incidental or ancillary thereto.

The Articles of Association are to be altered by incorporating additions, modifications and deletions needed to align them with the Companies Act, 2013, the SEBI Listing Regulations and other applicable laws.

Financial authorisations approved

• Borrowing powers under Section 180(1)(c): aggregate outstanding borrowings, excluding temporary loans from bankers in the ordinary course, not to exceed Rs. 300,00,00,000/- at any point of time.
• Section 186: investments, loans, guarantees or securities beyond prescribed limits, up to an aggregate not exceeding Rs. 50,00,00,000/-.
• Section 185: loans, including loans represented by book debts, guarantees or securities for persons or bodies corporate in whom any Director is interested, up to Rs. 25,00,00,000/-.
• Related party transactions, material or otherwise, from the date of this 33rd AGM up to the conclusion of the next AGM, for an aggregate value not exceeding ₹25,00,00,000/-.

Board

Mr. Ajay Sharma (DIN: 03344008) was re-appointed as a Non-Executive Independent Director for a second term of five consecutive years with effect from September 1, 2026 up to August 31, 2031, not liable to retire by rotation. He is stated to have over 20 years of experience in trading and retail business, with expertise in marketing, administration, real estate and financial services, and holds directorships in E-Vishesh.Com Limited, MPS Pharmaa Limited and Interworld Digital Limited (resigned with effect from September 30, 2024).

How investors may read it

A change in the main objects signals an intent to broaden activity from the existing business into electronics, mobile and software-related lines. The headroom approved for borrowings, inter-corporate loans, guarantees and related party dealings is enabling in nature, which means these are ceilings authorised by shareholders rather than amounts already used.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.