The Hi-Tech Gears Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
HITECHGEAR · price
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The Hi-Tech Gears Limited has informed the stock exchanges that shareholders approved two key changes to the company's Memorandum of Association through a postal ballot on July 15, 2025. First, the company has adopted a new set of MOA aligned with the Companies Act, 2013, replacing the older version based on the erstwhile Companies Act, 1956 — this involves restructuring the object clause into III(A) and III(B) and updating the liability clause. Second, a new main object clause (III(A)(vii)) has been added allowing the company to act as agent, consultant, broker, or intermediary for the purchase, sale, supply, import, export, and distribution of raw materials, metals, machinery, and automobile-related parts, including trading activities without taking ownership of goods. The amended MOA has been uploaded to the company's website.
This is largely a routine legal housekeeping exercise to bring the MOA in line with the current Companies Act, 2013. The addition of the trading and brokerage object clause signals a potential expansion into trading, distribution, and intermediary services in the automobile supply chain, which could open new revenue streams but may not have an immediate material impact on the stock price.