Outcome of Meeting of the Board of Directors held on i.e. Thursday, June 19, 2025.
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The board of Rich Universe Network Ltd approved the appointment of two new Non-Executive Non-Independent Directors — Mr. Rupesh Kumar Mittal (26 years of experience in commercial operations and financial planning) and Mr. Mitesh Milanbhai Solanki (10 years of experience in accounting and financial planning). The board also approved increasing the authorised share capital from Rs. 40 crore to Rs. 60 crore by adding 2 crore new equity shares of Rs. 10 each. Additionally, the company plans to add new business activities to its Object Clause, adopt new Articles of Association, and open a new branch office in Ahmedabad. These changes will be put to shareholders through a postal ballot, with NSDL appointed as the e-voting agency.
Shareholders should watch for the postal ballot notice, as they will need to approve the share capital hike and the expansion of business activities. The capital increase signals possible fundraising plans, while new board appointments and branch expansion suggest the company is gearing up for growth or diversification.