Board approves MoA object clause change for IT/ITES; postal ballot to seek member approval
Outcome of Board Meeting (05 Oct 2026).
- Board Meeting Date
- 05 Oct 2026
- MoA Object Clause Amendment
- New sub-clause (23) to be inserted to enable the company to undertake IT/ITES business
- E-voting Cut-off Date
- 09 Oct 2026
- E-voting Period
- 15 Oct 2026 (10:00 am) to 13 Nov 2026 (5:00 pm)
What the board approved
The Board of Directors of McNally Bharat Engineering Company Limited met on 05 Oct 2026, from 3.00 PM to about 4.10 PM, and approved the following:
- Alteration of the Object Clause of the Memorandum of Association by inserting sub-clause (23) immediately after the existing sub-clause (22) of the present Clause III, and consequently renumbering the existing sub-clauses (23) and (24) as sub-clauses (24) and (25).
- Approval of the Postal Ballot Notice for obtaining members' approval through the Postal Ballot Process (remote E-voting).
The cut-off date for the purpose of e-voting is Friday, 09 Oct 2026.
The Postal Ballot e-voting period commences on Thursday, 15 Oct 2026 (from 10:00 am) and concludes on Friday, 13 Nov 2026 (till 5:00 pm).
What is being added to the objects
The new object is being proposed with a view to inter alia diversify and widen the scope of the company's business activities, to enable the company to explore emerging business opportunities in the Information Technology and Information Technology Enabled Services (IT/ITES) sector, and to enable the territorial expansion of the company's offices in future. The new sub-clause is proposed so that the company can undertake IT/ITES business.
What this means for a reader
- The company's registered objects set out what businesses it is permitted to carry on. Adding an object for IT/ITES widens the permitted scope of activity. It does not, by itself, mean the company has started that business.
- The board has approved the change and the notice for a members' vote. The alteration is therefore placed before shareholders through a postal ballot, and members' approval is being sought before it takes effect.
What to watch
- The result of the postal ballot, once the e-voting window closes on 13 Nov 2026.
- Any subsequent disclosures on how the company takes the IT/ITES object forward.
In short: this is a board-level step to widen the company's permitted business scope, plus the schedule for the members' postal ballot that will decide it.
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.