N. B. I. Industrial Finance Company Limited has informed regarding Disclosure of material issue w.r.t. alteration in Memorandum of Association of the Company thereby bringing it in line with the RBI s requirements.
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The Board of Directors of N. B. I. Industrial Finance Company Limited has approved amendments to its Memorandum of Association (MOA) to comply with RBI directives for Type-I NBFC-ND classification. The company, registered as an NBFC under RBI Act 1934, is removing all lending and borrowing provisions from its object clauses. Key changes include deletion of 'lend, borrow' and 'lenders, borrowers' references from Clause III A, along with minor syntax updates to Clause III B. The company wants to be classified as Type-I NBFC-ND (not accepting public funds, no customer interface). Shareholder approval is being sought via postal ballot with e-voting from May 26 to June 24, 2026.
This is a regulatory compliance exercise. The company will continue as an NBFC but without lending/borrowing activities. No material impact on stock price expected as this aligns the company with its actual business operations and RBI requirements.