MOA amended for mergers and acquisitions; CMD Suresh Shastry to continue past age 70
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
At the 35th AGM on July 24, 2026, shareholders passed two special resolutions. First, the Object Clause of the MOA was amended by inserting a new sub-clause 3(B)(43) allowing the company to enter into mergers, demergers, acquisitions, takeovers, and other corporate restructuring with any entity in India or abroad. Second, Mr. Suresh Shastry (69, DIN 01099554) was approved to continue as Chairman and Managing Director after attaining age 70. He holds 28.64 percent stake and drew Rs 21.62 lakhs as salary in FY25-26. The filing confirms he is not debarred by SEBI.
Gives the company flexibility to pursue M&A and restructuring. Promoter-led leadership continues, but minority investors may flag succession and capital allocation risk.