Articles of Association amended: Clause 9 and Clause 10 inserted for further share issues
Shareholders approved inserting Clause 9 and Clause 10 in the Articles of Association under "Share Capital and Variation of Rights" by special resolution at the Extra Ordinary General Meeting held on 20th October, 2026.
By ScoutQuest · · 2 min read
- EGM Date
- Extra Ordinary General Meeting held on 20th October, 2026
- Resolution Type
- special resolution
- Amendment
- inserting Clause 9 and Clause 10 in the Articles of Association under "Share Capital and Variation of Rights"
What happened
- The members of the company approved an alteration of the Articles of Association at an Extra Ordinary General Meeting held on Tuesday, 20th October, 2026, conducted through video conferencing and other audio-visual means.
- The alteration inserts Clause 9 and Clause 10 under the "Share Capital and Variation of Rights" section of the Articles of Association.
- The approval was by way of special resolution, and the company has stated that the intimation and the amended Articles are being uploaded on its website.
What the two new clauses say
- Clause 9 lets the Board or the Company issue further shares to three sets of people: persons who are holders of equity shares on the date of the offer (with a right to renounce the shares offered to them in favour of another person), employees under any employees' stock option scheme, and any other persons, whether or not they include the first two groups.
- Clause 10 permits a further issue of any kind of securities permissible under the Act, in any manner the Board may determine, including by way of right issue, preferential offer, private placement, Qualified Institutional Placement or any other mode, subject to the Companies Act, 2013 and the rules under it, SEBI regulations and FEMA regulations.
How to read this
- This is a change to the company's internal rule book. It widens the set of routes through which the company can issue shares or other securities.
- The clauses set out the framework. The specifics of any issue, such as the mode chosen, the securities involved and the terms, are decided when a particular issue is taken up by the Board or the shareholders.
- For a retail shareholder, these routes matter at the time of an actual issue, because modes such as a preferential offer or a Qualified Institutional Placement can change the shareholding pattern and the voting base.
What to track
- Any later announcement of an actual issue of shares or securities, and the terms attached to it.
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