The Hi-Tech Gears Limited has informed the Exchange regarding Notice of Postal Ballot
HITECHGEAR · price
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The Hi-Tech Gears Limited has issued a Postal Ballot Notice (dated May 29, 2025) seeking shareholder approval through remote e-voting on three special resolutions. The first is the appointment of Mr. Vishal Seth (DIN: 05136478) as a Non-Executive & Independent Director for a five-year term from April 25, 2025 to April 24, 2030; he has over 20 years of leadership experience across aerospace, automotive and consulting, with past roles at Spencer Stuart, Arconic India and Alcoa. The second resolution seeks adoption of a new Memorandum of Association (MOA) aligned with the Companies Act, 2013, replacing the old MOA based on the 1956 Act. The third resolution proposes altering the Object Clause of the MOA to allow the company to act as agent, broker, consultant or intermediary for purchase, sale, import, export and distribution of raw materials (steel, aluminium, copper) and auto components. The e-voting window runs from June 16, 2025 (9:00 AM IST) to July 15, 2025 (5:00 PM IST), with the cut-off date set at June 6, 2025.
These are largely procedural and housekeeping items. The director appointment and MOA realignment with the 2013 Act are routine, while the expansion of the object clause to include trading, brokering and distribution of raw materials and auto parts gives the company greater operational flexibility to grow into supply-chain and trading activities, which could support future revenue diversification for shareholders.