Alteration to Object Clause of Memorandum of Association
Shareholders approved three new business activities at the AGM on 24 September 2026.
By ScoutQuest · · 2 min read
- AGM Date
- 24 September 2026
- New Business Activity 1
- Heavy machinery and equipment (cranes, construction equipment, vehicles)
- New Business Activity 2
- Investment in securities and financial instruments
- New Business Activity 3
- Infrastructure projects (roads, railways, airports, ports)
What happened
The shareholders approved alterations to the Object Clause of the Memorandum of Association on 24 September 2026. The Object Clause defines what business activities a company is legally permitted to undertake.
Three new sub-clauses added
Sub-clause (9): Heavy Machinery and Equipment Business
The company can now deal in cranes, lifting equipment, material handling equipment, heavy machinery, construction equipment, agricultural equipment, earthmoving machinery, industrial machinery, and vehicles (including utility and defence vehicles). This includes manufacturing, producing, purchasing, selling, trading, importing, exporting, distributing, leasing, renting and hiring these products. The company can also provide related services: equipment management, refurbishment, modernization, retrofitting, repair, maintenance, servicing, overhauling, inspection, testing, installation, commissioning, dismantling and operation. It can act as manufacturers' representatives, dealers, distributors, stockists, commission agents, consultants, service providers, importers, exporters, contractors and traders both online and offline, in India and abroad.
Sub-clause (10): Investment and Securities Business
The company can now invest in, acquire and deal with shares, stocks, debenture stocks, bonds, derivatives, obligations and securities issued by any company in India or abroad. It can also deal in debentures, bonds and securities issued or guaranteed by governments, states, public bodies or authorities in India and abroad.
Sub-clause (11): Infrastructure Projects Business
The company can plan, design, develop, construct, engineer, execute, operate, maintain, manage, improve, renovate and provide infrastructure and infrastructure-related projects. This covers roads, highways, bridges, flyovers, tunnels, railways, metro systems, airports, ports, harbours, waterways, logistics parks, industrial parks, urban infrastructure, townships, commercial and residential infrastructure, water supply and treatment systems, sewage and drainage systems, waste management facilities, power and renewable energy infrastructure, transmission and distribution systems, and telecommunications infrastructure. The company can undertake Engineering, Procurement and Construction (EPC), turnkey, design-build, operation and maintenance, and project management contracts. It can participate in public-private partnerships, concession arrangements, Build-Operate-Transfer (BOT), Build-Own-Operate-Transfer (BOOT), and Design-Build-Finance-Operate-Transfer (DBFOT) projects.
What this means
These changes significantly broaden what the company is allowed to do. Historically, the company was focused on chemicals export (as its name suggests). Now it has permission to enter three entirely new business domains: heavy machinery and equipment, financial investments, and infrastructure development. This does not mean the company will immediately start these businesses, but it removes legal restrictions that previously prevented entry. The company can now pursue opportunities in these sectors if management decides to do so.
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