The shareholders of the company approved the alteration of Memorandum of Association by adding additional clause of business by passing the Special Resolution through postal ballot on April 29, 2025.
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S V Global Mill Ltd has received shareholder approval, through a Special Resolution passed via postal ballot that concluded on April 29, 2025, to amend its Memorandum of Association by adding a new main object under Clause III. The company, which operates in real estate and holds land and inventories, plans to commercially utilise its land by setting up temporary structures such as sports complexes, convention and marriage halls, auditoriums, hotels and restaurants, exhibitions, and event venues. The move is aimed at generating interim business revenue and enhancing the intrinsic value of the land while the management continues to look for prospective buyers at optimal market prices. The scrutiniser's report on the postal ballot has been submitted to BSE as required under SEBI listing regulations.
For shareholders, this amendment broadens the company's permitted business activities, allowing it to monetise idle or underutilised land through temporary commercial use while awaiting favourable sale opportunities. This could translate into additional revenue streams in the near term, potentially improving cash flows, though the success will depend on execution and demand for these temporary facilities.