Pursuant to Reg 30 of LODR the company has approved special resolutions through postal ballot as per attachment
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Awaiting price reaction for this filing.
The company has approved five special resolutions through a postal ballot. These include: (1) adding a new object clause to the company's main business objectives, suggesting a possible shift or expansion in business activities; (2) raising the overall borrowing limit under Section 180(1)(C), giving the board more room to take on debt; (3) increasing limits under Section 180(1)(A) related to selling, leasing or mortgaging company assets; (4) expanding the company's ability to give loans, guarantees and make investments under Section 186; and (5) approving a variation in the original objects for which warrants were earlier issued on a preferential basis. The filing was signed by Parth Tulsibhai Patel, Director & CFO, on behalf of Vaghani Techno-Build Limited, suggesting a possible corporate name change from the earlier Emrock Corporation Ltd.
Shareholders should note the company is giving itself much wider financial flexibility — higher debt, asset disposal and lending powers — which could mean future fundraising or expansion plans are being prepared. The change in objects of the earlier preferential warrant issue may also affect how and when those warrants get exercised, potentially impacting equity dilution timing.