Appointment of Mr. Amit Radheshyam Tiwari and Mr. Ankit Kumar Yadav as an additional Non-Executive Independent Director of the Company
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Clio Infotech Ltd's board, at its meeting on April 14, 2025, appointed Mr. Amit Radheshyam Tiwari (DIN: 11030622) and Mr. Ankit Kumar Yadav (DIN: 11032299) as additional Non-Executive Independent Directors, each for a 5-year term subject to shareholder approval. All three board committees — Audit, Nomination & Remuneration, and Stakeholders Relationship — were reconstituted with the newly appointed directors taking up chairperson and member roles, replacing the previous independent directors. Additionally, the board approved an amendment to the Main Object Clause of the MOA to add IT, software development, and related technology businesses, and adopted a new MOA aligned with the Companies Act, 2013. These MOA changes are also subject to shareholder and statutory approvals.
This is largely a governance restructuring with no immediate financial impact on shareholders. The expanded object clause signals a possible pivot into IT/software businesses, which could open new revenue avenues if pursued post shareholder approval.