Outcome of the Meeting of the Board of Directors held on 14th April, 2025.
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The board of Clio Infotech Ltd met on April 14, 2025, and approved several key resolutions. Two new Non-Executive Independent Directors were appointed: Mr. Amit Radheshyam Tiwari and Mr. Ankit Kumar Yadav, each for a 5-year term, subject to shareholder approval. All three board committees (Audit, Nomination & Remuneration, and Stakeholders Relationship) were reconstituted with Mr. Tiwari as the new Chairperson, replacing the previous members. Additionally, the company proposed amending its Main Object Clause of the MOA to include a new sub-clause covering IT, software development, web services, data processing, and related technology businesses. The board also approved adopting a new set of MOA aligned with the Companies Act, 2013, replacing the old one based on the Companies Act, 1956.
These changes signal a possible shift in the company's business focus toward IT and software services, though shareholder approval is still pending. The complete replacement of independent directors and committee chairpersons is a significant governance change that investors should monitor closely.