Alteration of entire Object Clause III in Memorandum of Association (MoA) and to adopt revised MOA subject to the approval of the members of the Company and other statutory/ regulatory authorities.
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The company's Committee of Directors has approved changing its name to 'E&E Enterprises Limited' and rewriting its entire Object Clause III of the Memorandum of Association. This follows the RBI's cancellation of the company's Certificate of Registration as a Non-Banking Financial Company (NBFC) on 24th July 2025, after the company voluntarily requested the surrender. With NBFC status gone, the company plans to shift its business focus to investing in non-financial assets, trading activities, and real estate. An Extraordinary General Meeting (EGM) has been scheduled for 25th September 2025 to seek shareholder approval for both the name change and the new MoA. A scrutinizer has also been appointed to oversee the e-voting process at the EGM.
Shareholders should note this marks a fundamental business pivot — the company is exiting the NBFC/financial services space and moving into real estate, trading, and non-financial investments, which carries fresh business risk. The name change and MoA alteration require member approval at the upcoming EGM on 25th September 2025, so shareholders will have a direct say in approving this transition.