Addendum to the Notice of AGM to be held on Tuesday, 19th August, 2025
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Darjeeling Ropeway Company Limited has issued an addendum to its AGM notice (originally circulated on 28 July 2025), adding a new Special Resolution (Item No. 5) to be considered at the AGM on 19 August 2025 at 3:00 PM via video conferencing. The resolution seeks shareholder approval to alter the Objects Clause of the Memorandum of Association by inserting seven new sub-clauses (Nos. 36 to 42). These new objects cover aviation spare parts, solar energy systems, electronic components and devices, electric vehicles and semiconductors, IT consulting and software, agricultural and food products, and industrial machinery. The board approved this proposal at its meeting on 14 August 2025. Approval is required under Section 13 of the Companies Act, 2013 as a Special Resolution. No details on funding, timelines, or execution plans have been provided.
This represents a major strategic pivot — the company is moving from a single ropeway business into at least seven unrelated sectors including EVs, semiconductors, solar, aviation, IT, food & beverages, and machinery. Shareholders should evaluate whether the management has the capability and capital to execute such a broad diversification. The market may view the lack of focus cautiously, but successful execution could unlock new growth avenues. Investors are advised to read the full addendum and consider voting implications before the 19 August AGM.