Shareholders Approve Amendment to Object Clause of Memorandum of Association
At the 37th Annual General Meeting held on September 30, 2026, shareholders passed a special resolution approving a change to Clause III (A) 3 of the Memorandum of Association.
- Meeting Date
- September 30, 2026
- Meeting Type
- 37th Annual General Meeting
- Resolution Type
- Special resolution
- Clause Amended
- Clause III (A) 3 of the Memorandum of Association
- New Permitted Activities
- Purchase/sale of book debts, stressed assets, receivables; arranging/providing finance; investment in AIFs; investment and trading in…
What was shared
The company intimated BSE under Regulation 30 of SEBI LODR that shareholders approved an alteration to the object clause of its Memorandum of Association.
- Approved by special resolution at the 37th Annual General Meeting held on September 30, 2026.
- The clause amended is Clause III (A) 3 of the existing Memorandum of Association.
What the revised clause now covers
- Purchase and sale of book debts, stressed assets and receivables of companies, including stressed assets through statutory authority.
- Arranging or providing financial and other facilities, independently or with persons, financial institutions, banks, industrial companies or other agencies.
- Lending or advancing money by way of loan, working capital finance, refinance, project finance or any other form, with or without security.
- Such facilities may be extended to institutions, bodies corporate, firms, associations, individuals, societies, trusts, authorities and industrial enterprises.
- Investment in AIFs (Alternative Investment Funds).
- Carrying on the business of investment and trading in shares, derivatives and other securities.
How to read this
An object clause sets out the activities a company is legally permitted to undertake. Widening it is an enabling step: it gives the company room to pursue the listed activities, but by itself it is a constitutional change to the charter documents rather than a transaction or a business result.
Investors may watch subsequent disclosures for whether the company actually takes up any of these newly stated activities and in what scale.
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