inter-alia considered and approved the following; 1. Approved to insert additional business activity in main Object Clause of the Memorandum of Association of the Company 2. Approved ....
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The board, at its meeting on August 25, 2025, approved inserting a new business activity — management, selling, manufacturing, and finance consulting — into the Main Objects Clause of the Memorandum of Association. It also approved a resolution under Section 180(1)(a) of the Companies Act to sell, lease, or otherwise dispose of the company's undertaking. The asset being sold is land and structures at Rakanpur, Taluka Kalol, Gandhinagar (Survey Nos. 708, 709, 710), measuring 18,284 sq. metres, for a consideration of not less than INR 6 Crores. The company had already stopped its manufacturing operations on January 1, 2024, and the asset contributed NIL to last year's turnover. The transaction is not a related party transaction. An addendum to the notice of the 55th AGM was also approved.
For shareholders, this signals the company is winding down its legacy manufacturing footprint and monetising the underlying real estate (minimum INR 6 Crores inflow) while repositioning itself around a consulting services business. The disposal is of an already-idle asset, so near-term revenue impact is minimal, but the strategic direction has clearly shifted away from manufacturing.