Alteration in Object Clause of Memorandum of Association and Adoption of New MOA and AOA
Shareholders approved expansion of the company's business scope.
- AGM Date
- 28 September 2026
- AGM Number
- 36th Annual General Meeting
- Object Clause Expansion
- Real estate, construction, development, and property management activities added
- Governance Update
- New Memorandum and Articles of Association adopted under the Companies Act, 2013
What changed
The company's object clause — the list of activities it is allowed to pursue — was expanded significantly at the 36th AGM held on 28 September 2026.
New business areas
- Acquiring, developing, and operating immovable property including land, buildings and estates
- Constructing and managing residential, commercial, industrial and institutional projects
- Building hotels, guest houses, serviced apartments, retail outlets, shopping malls, office complexes, business parks, industrial parks, warehouses and logistics facilities
- Operating cold storages, factories, mills, hospitals, educational institutions, convention centres and sports facilities
- Purchasing and leasing property independently or jointly with other entities
- Acting as builders, developers, promoters, contractors, EPC contractors, project managers, architects, engineers, property managers and valuers
- Undertaking contracts for government, semi-government and private entities for the above activities
Why this matters
This alteration formally permits the company to enter real estate and construction businesses, which are entirely different from its historical yarn manufacturing focus. The change does not mean the company is immediately entering these sectors — it simply removes legal barriers to doing so. The decision was approved by shareholders, the company's owners.
Compliance
The new MOA and AOA were adopted to comply with the Companies Act, 2013. This is a routine update to the company's governing documents.
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