Board approves Main Objects change and share capital increase; fund-raising proposal deferred

The Board of 03rd October, 2026 approved altering the Main Objects of the company to include diamonds and real estate, and raising Authorised Share Capital from Rs. 13,45,00,000 to Rs. 125,00,00,000 — both subject to shareholder approval.

Sat 3 Oct 2026

Authorised Share Capital Change

from Rs. 13,45,00,000 to Rs. 125,00,00,000 — subject to shareholder approval

Proposed Share Structure

Rs. 125,00,00,000 divided into 12,50,00,000 Equity Shares of Rs. 10/- each

Existing Share Structure

Rs. 13,45,00,000 divided into 1,34,50,000 Equity Shares of Rs. 10/- each

New Main Objects

diamonds — rough, polished, cut, uncut, natural, laboratory-grown and synthetic — plus real estate and investments

Fund Raising Proposal

deferred to a later Board meeting, with no decision or approval taken

The Board met on Saturday, 03rd October, 2026 and approved three items, while deferring a fourth. The meeting commenced at 06:10 P.M. and concluded at 06:30 P.M.

What the Board approved

• Alteration of the Main Objects clause of the Memorandum of Association, substituting the existing objects with revised Main Objects, subject to the necessary approvals of Members in their meeting and any other regulatory authorities.
• Increase in the Authorised Share Capital of the company, subject to the approval of the shareholders.
• Appointment of Ms. Pratibha Sharma (M. No. A38211) as Company Secretary and Compliance Officer with effect from 03rd October, 2026.

New objects: diamonds, real estate, investments

The revised Main Objects allow the company to carry on the business of purchasing, selling, buying, importing, exporting, trading, dealing, stocking, supplying, distributing, marketing and merchandising diamonds, including rough diamonds, polished diamonds, cut and uncut diamonds, natural diamonds, laboratory-grown diamonds, synthetic diamonds and diamond-related products, whether in India or abroad. Another sub-clause covers cutting, polishing, processing, grading, sorting, manufacturing, designing and finishing of diamonds and diamond-related products, and establishing diamond cutting and polishing units, manufacturing facilities, processing centres and laboratories. Two further sub-clauses cover dealing in and developing residential, commercial, industrial and other buildings, land and immovable property, and investing in, acquiring or merging with companies, firms and other entities engaged in these objects.

Share capital

• Existing: Rs. 13,45,00,000 (Rupees Thirteen Crore Forty-Five Lakh Only) divided into 1,34,50,000 Equity Shares of Rs. 10/- each.
• Proposed: Rs. 125,00,00,000 (Rupees One Hundred and Twenty-Five Crore Only) divided into 12,50,00,000 Equity Shares of Rs. 10/- each.

The alteration of Clause 3 and Clause 5 of the Memorandum of Association requires the approval of the Members in their meeting.

Fund raising deferred

The Board, after due discussion, deferred the proposal for raising funds to a subsequent meeting of the Board. Accordingly, no decision or approval has been taken by the Board in respect of the proposed fund raising at the meeting held today. The company shall make a further disclosure of the date and time of the next Board meeting, as and when decided.

Company Secretary

Ms. Pratibha Sharma is an associate member of ICSI with experience in Company Law, Corporate Governance, Legal Compliance and Quality Control, and exposure to the Companies Act, 2013, SEBI Regulations, Rules and circulars, and the Foreign Exchange Management Act (FEMA).

What to watch

• The objects change and the capital increase both need shareholder approval before they take effect.
• The increase in Authorised Share Capital is a change in the ceiling of shares the company can issue, not an issue of shares by itself.
• The fund-raising proposal was not decided upon at this meeting; it has been deferred to a later Board meeting.

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