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Rich Universe Network Limited (formerly Rich Capital & Financial Services Limited), based in Kanpur, has issued a Postal Ballot Notice seeking shareholder approval via remote e-voting on three items. Resolution 1 (Ordinary) proposes increasing the Authorised Share Capital from Rs. 40 crore (4 crore equity shares of Rs. 10 each) to Rs. 60 crore (6 crore equity shares of Rs. 10 each), along with amending Clause 5 of the MOA. Resolution 2 (Special) seeks to alter the Object Clause of the MOA to add new business areas including IT services, software development, cybersecurity, blockchain, cloud computing, AI, machine learning, data science, and R&D, and to adopt a new MOA aligned with the Companies Act, 2013. Resolution 3 (Special) seeks adoption of a new Articles of Association to replace the existing AOA framed under the old Companies Act, 1956. E-voting runs from June 25, 2025 (9:00 AM) to July 24, 2025 (5:00 PM), with results to be declared on July 25, 2025. The cut-off date for voting eligibility is June 20, 2025.
The 50% increase in authorised share capital and the addition of technology-focused business activities (IT, AI, data science, blockchain) signal a possible shift in business direction and potential future fundraising or equity dilution. Shareholders should evaluate these changes carefully, as approval would broaden the company's permissible activities and could lead to a fresh equity issue down the line.