Adoption of New set of MOA pursuant to provision of Table-A of Schedule I of the Companies Act, 2013.
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The Board of Directors of Darjeeling Ropeway Company Limited, at its meeting on 25th November 2025, approved the adoption of a new Memorandum of Association (MOA). The company will drop 35 outdated object clauses, retain 7 relevant ones, and add a new Clause 8 expanding into defence equipment. The new clause covers manufacturing, designing, assembling, and servicing a wide range of lethal and non-lethal defence products, including arms and ammunition, military vehicles, UAVs, avionics, radar/sonar systems, body armour, and MRO (maintenance, repair, overhaul) services for armed forces, paramilitary, and police. An Extra-Ordinary General Meeting (EGM) has been scheduled for 18th December 2025 via video conferencing to seek shareholder approval for these MOA changes.
This marks a major strategic pivot for the company — moving from a ropeway-focused entity into the defence manufacturing and services sector, which could significantly change its business profile and valuation. Shareholders should note that the change still requires their approval at the upcoming EGM, and execution of the defence business plan will be key to watch going forward.