Please find enclosed herewith, Notice of the postal Ballot seeking approval for the following special business: 1.Approval for the adoption of Memorandum of Association as per the provisions ....
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Daikaffil Chemicals India Ltd has sent out a Postal Ballot Notice dated April 23, 2025, seeking shareholder approval through remote e-voting for three items. The first two are Special Resolutions to adopt a new Memorandum of Association (MOA) and a new set of Articles of Association (AOA) aligned with the Companies Act, 2013, replacing the existing ones dating back to 1992 / the old Companies Act, 1956. The third item is an Ordinary Resolution to increase the Authorised Share Capital from Rs. 6.5 crore (65 lakh equity shares of Rs. 10 each) to Rs. 10 crore (1 crore equity shares of Rs. 10 each), creating an additional 35 lakh equity shares. Voting opens on April 30, 2025 and closes on May 29, 2025, with results to be declared within two working days. MUFG Intime India is the e-voting service provider and Mr. Nirmal Gupta of GMJ & Associates is the scrutinizer.
The MOA/AOA overhaul is largely a housekeeping exercise to bring governance documents in line with the current Companies Act, 2013, so impact is minimal. The increase in Authorised Share Capital from Rs. 6.5 crore to Rs. 10 crore gives the company headroom to issue 35 lakh more equity shares in the future, which could mean a potential equity fundraising or stock split down the line — shareholders should watch for any subsequent preferential allotment, rights issue, or bonus announcement.