AGM Outcome: Object Clause Altered for Electronics & Software Business; Borrowing Limit Set at Rs. 300 Crore
All AGM resolutions passed (AGM held Sept 29, 2026).
- AGM Date
- September 29, 2026
- Borrowing Powers Approved
- Rs. 300,00,00,000
- Investments/Loans/Guarantees Limit
- Rs. 50,00,00,000
- Section 185 Loans Limit
- Rs. 25,00,00,000
- Related Party Transactions Limit
- ₹25,00,00,000
What was announced
Based on the Scrutinizer's report dated October 01, 2026 (M/s Kundan Agrawal & Associates), all resolutions in the AGM notice were passed with the requisite majority at the 33rd AGM held on Tuesday, September 29, 2026.
New line of business
Members approved altering the Object Clause of the Memorandum of Association, substituting existing Clause III(A) and Clause III(B) entirely, to enable the Company to undertake business in computer software and hardware, consumer electronics, mobile phones, mobile accessories and allied products.
The Articles of Association were also approved for alteration to align with the Companies Act, 2013 and SEBI Listing Regulations.
Financial authorisations approved
- Borrowing powers under Section 180(1)(c): aggregate outstanding borrowings not to exceed Rs. 300,00,00,000 (Rupees Three Hundred Crore Only), excluding temporary loans from bankers in the ordinary course of business.
- Section 186: investments, loans, guarantees or securities beyond prescribed limits up to Rs. 50,00,00,000 (Rupees Fifty Crore Only).
- Section 185: loans, guarantees or securities to persons/bodies corporate in whom any Director is interested, up to Rs. 25,00,00,000 (Rupees Twenty-Five Crore Only).
- Related party transactions from the date of this 33rd AGM up to the conclusion of the next AGM, aggregate value not exceeding ₹25,00,00,000 (Rupees Twenty-Five Crore Only).
Director re-appointment
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. His profile notes over 20 years of experience in trading and retail business, with expertise in marketing, administration, real estate and financial services. His directorships over the past three financial years include E-Vishesh.Com Limited, MPS Pharmaa Limited and Interworld Digital Limited (resigned with effect from September 30, 2024).
How investors may read it
The object clause change signals an intent to diversify into electronics and software-related activities, a shift from the Company's existing name and focus. The enabling limits for borrowings, investments and related party transactions are approvals of headroom rather than transactions already undertaken.
Also from B. P. Capital
AGM approves new object clause for electronics and mobile business, higher borrowing and related party limits
1 Oct 2026
More numbers
- Maximum aggregate borrowings under Section 180(1)(c)Rs. 300,00,00,000/-
- Section 186 investments/loans/guarantees limitRs. 50,00,00,000/-
- Section 185 loans/guarantees limitRs. 25,00,00,000/-
- Related party transactions limit till next AGM₹25,00,00,000/-
- Independent Director re-appointment termfive (5) consecutive years
- Experience of Mr. Ajay Sharmaover 20 years
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