Meeting Details
The Board of Directors meeting was held at the Registered Office of the Company on Monday, 29th June, 2026. The meeting commenced at 5:30 PM and concluded at 6:30 PM.
Board Decisions and Approvals
1. Alteration of Memorandum of Association
The Board deliberated in principle on the proposal for alteration of the Capital Clause and Object Clause of the Memorandum of Association, including proposed increase in Authorized Share Capital. The detailed proposal including quantum of increase in Authorized Share Capital and final amendments to Object Clause will be finalized after evaluating Company's requirements and placed before the Board in a subsequent meeting. Final approval is subject to shareholder approval and other statutory/regulatory approvals.
2. Enhancement of Limits under Section 186 of Companies Act, 2013
The Board deliberated in principle on enhancement of limits for making investments, granting loans, providing guarantees and/or providing securities under Section 186. The detailed proposal including revised monetary limits will be finalized and placed before the Board for consideration in a subsequent meeting. Final approval will require shareholder approval wherever required under Companies Act, 2013.
3. Enhancement of Borrowing Powers under Section 180(1)(c)
The Board deliberated in principle on enhancement of borrowing limits pursuant to Section 180(1)(c) of Companies Act, 2013. The detailed proposal including revised borrowing limits will be finalized after assessing Company's financial requirements and placed before the Board in a subsequent meeting. Final approval is subject to shareholder approval and other applicable law approvals.
4. In-Principle Approval for Strategic Investments
The Board accorded in-principle approval to evaluate proposed strategic investments through acquisition of equity shares of:
- M/s. Startech Infralogistics Private Limited (SIPL)
- M/s. Peepal Mining and Logistics Private Limited (PMLPL)
The acquisition would be through purchase of existing equity shares from current shareholders. The proposal is at preliminary stage and remains subject to:
- Completion of financial, legal, secretarial and commercial due diligence
- Determination of fair valuation by Independent Registered Valuer
- Receipt of professional opinions and recommendations from consultants
- Negotiation and finalization of commercial terms, consideration and definitive documents
- Statutory, regulatory and internal approvals as applicable
No final decision has been taken regarding acquisition details, number of shares, percentage of shareholding, investment amount, acquisition price, or other commercial terms. These will be decided by the Board in a subsequent meeting after completion of valuation and due diligence.
5. Appointment of Professional Advisors
The Board approved appointment of professional intermediaries including Independent Registered Valuers, Consultants and other professionals required for:
- Valuation of equity shares
- Legal, financial, secretarial and commercial due diligence
- Advising the Company on proposed strategic investments and allied matters
6. Authorization to Senior Management
The Board authorized the Chief Executive Officer (CEO), Executive Directors and Chief Financial Officer (CFO) - jointly and/or severally - to:
- Hold discussions and negotiate regarding proposed investments
- Evaluate and correspond on investment matters
- Undertake all necessary preliminary actions
- Appoint and coordinate with professional advisors
- Collect information and documents
- Execute non-binding documents
- Perform acts necessary to facilitate transaction evaluation
All actions are subject to final approval of the Board of Directors.