Members Approve Alteration of Memorandum of Association Objects Clause at 33rd AGM

Shareholders have approved an alteration to the company's Memorandum of Association (MOA).

Tue 29 Sep 2026

Meeting

33rd Annual General Meeting held on September 29, 2026

Resolution Type

Special Resolution

MOA Clause Modified

Existing Clause III (B) substituted with new clause containing 38 sub-clauses

Powers Granted

Foreign currency receipts and repatriation, R&D, patent and trademark acquisition, joint ventures, borrowing, property dealings

What was shared

The company told BSE that its shareholders approved an alteration to the Memorandum of Association (MOA). The existing Clause III (B) has been substituted with a new clause containing 38 sub-clauses.

How it was approved

• Approved by way of a Special Resolution (requires at least three-fourths support of members voting).
• Passed at the 33rd Annual General Meeting held on September 29, 2026.

What the MOA and Clause III (B) are

The MOA is a company's founding constitutional document. Clause III sets out its objects. Clause III (B) typically lists the ancillary or incidental powers the company may exercise in furtherance of its main business. Widening it gives the board clearer legal authority to take certain actions without questions over whether they fall outside the company's stated objects.

Key powers in the new clause

• Receive contract amounts in foreign currencies and repatriate amounts outside India.
• Enter into contracts and arrangements, including with governments and authorities.
• Buy, sell, import, export and deal in plant, machinery, tools and materials.
• Lease, purchase or develop properties, offices, godowns and employee accommodation.
• Recruit, train and develop staff; engage consultants and professionals.
• Carry on research and development on all aspects of the company's business.
• Acquire or license patents, designs, trademarks, copyrights, know-how and brand names, including international brand names of holding or group companies.
• Set up pension, superannuation, provident, welfare and education funds for employees.
• Acquire the business, assets, goodwill, rights and liabilities of other persons or companies.
• Enter into joint ventures, partnerships or amalgamations in India or abroad.
• Acquire memberships in stock, security or commodity exchanges and clearing houses.
• Purchase, mortgage, charge, hypothecate or encumber movable and immovable property.
• Borrow or raise money, issue debentures, and secure borrowings against company property including uncalled capital, subject to the Companies Act, 2013 and RBI directions.
• Advance money or give guarantees to customers and others — with an express bar on carrying on banking business under the Banking Regulation Act, 1949.

How investors may read it

This is an enabling change. It expands the formal powers written into the company's charter but does not by itself announce a new contract, acquisition, fundraise or project. The inclusion of powers around foreign-currency receipts and repatriation, intellectual property, joint ventures and borrowing indicates the scope the company wants available to it going forward.

No financial consideration, dilution or change in shareholding arises from this update.

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