Outcome of Board Meeting of Gravity India limited held today
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Gravity (India) Limited's Board of Directors met on 4 September 2025 and approved several key items. The 38th Annual General Meeting (AGM) has been scheduled for 30 September 2025 at 1:00 PM via video conference, with the register of members closed from 24 to 30 September 2025. The Board approved the appointment of CA Kamlesh Dave of DDM & Associates as the new Statutory Auditor for a 5-year term (FY 2025-26 to 2029-30), replacing the previous auditor. It also regularised the appointments of four directors, including Manoj Kanhiyalal Ramavat as Managing Director, Ambika Jindal and Komal Hardikkumar Patel as Independent Directors, and Tushar Rai Sharma as Non-Executive Non-Independent Director. Re-appointment of Mr. Varun Rasiklal Thakkar (retiring by rotation) was also approved. Most notably, the Board approved a major change in the Object Clause of the Memorandum of Association to include businesses in IT services, software development, web/mobile applications, electronic devices, computer trading, and consulting services, subject to shareholder approval.
The change in object clause signals a strategic pivot or diversification into the IT and technology services sector, which could reshape the company's business profile and attract a different investor base. Shareholders should note the 24-30 September book closure period and watch for the AGM voting results, especially on the related party transactions and object clause amendment, which require shareholder approval.