The alteration of the Object clause of MOA of the Company.
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The Board of Directors approved altering the Object Clause of the company's Memorandum of Association on 25 November 2025. The company plans to drop 35 outdated object clauses, retain 7 currently relevant ones, and add a new Clause 8 to enter the defence equipment business. The new clause covers manufacturing, designing, assembly, repair, and servicing of arms and ammunition, military vehicles, UAVs, avionics, electronic warfare systems, and body armour, along with MRO services for armed forces. An Extra-Ordinary General Meeting has been scheduled for 18 December 2025 via video conferencing to seek shareholder approval for these changes.
This represents a major strategic pivot from the existing ropeway business into India's defence manufacturing and services sector, which could open a much larger addressable market but also brings execution and capital intensity risk. Shareholders should watch the EGM outcome and any future fundraising required to fund this new direction.