Intimation of Amendment in the Main Object Clause of the Company
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Awaiting price reaction for this filing.
TTI Enterprise's board met on 12 February 2026 and cleared a packed agenda. The company approved Q3 FY26 unaudited results showing revenue from operations of about ₹720 lakhs versus ₹206 lakhs in Q3 FY25, though nine-month revenue trailed last year (₹720 lakhs vs ₹2,145 lakhs). The board approved amending the Main Object Clause of its MOA to enter two entirely new lines of business: food products (retail, wholesale, processing, supermarkets, e-commerce) and jewellery (manufacturing, trading, retail, hallmarking, auctions), subject to shareholder approval. The board also approved reclassifying several promoter-group entities as public shareholders (most hold zero shares, though two hold 0.18% combined). The CFO Mr. Nikhil Kombath resigned effective 3 February citing personal reasons, and two independent directors (Mr. Hitenkumar Prajapati and Mr. Chirag Shah) resigned effective 15 February. Two new independent directors, Mr. Kushal Agrawal and Mr. Shashank Suhalka, were appointed for five-year terms. The registered office shifted within Kolkata.
The MOA amendment signals a sharp strategic pivot from investment/loan activities into food retail and jewellery, which is a meaningful business change for shareholders. The simultaneous exit of the CFO and two independent directors, followed by quick replacements, may raise governance comfort questions but does not appear disruptive. Promoter reclassification is largely cosmetic since the entities hold negligible shares.