Mid East Portfolio Management Ltd announced the outcome of its Board of Directors meeting held on 9th July, 2026 at the company's registered office in Mumbai. The meeting commenced at 03:45 PM and concluded at 04:15 PM.
Key Decisions Approved:
1. Alteration in Object Clause of Memorandum of Association: The Board approved significant amendments to the company's Memorandum of Association by adding 17 new business objects to expand the company's operational scope.
2. Postal Ballot Process: The Board approved sending a Notice of Postal Ballot to shareholders for approval of the MoA changes and appointed M/s. Ankur Gandhi & Associates, Practicing Company Secretaries, as Scrutinizer to conduct the e-voting process in a fair and transparent manner.
Detailed New Business Objects Added:
The company is expanding into the following 17 new business areas:
1. Agriculture, agri-ventures, farming, cultivation, hydroponics, organic farming, precision agriculture, contract farming, agri-tech solutions, processing, manufacturing, grading, warehousing, storage, cold storage, packaging, branding, distribution, export, import and trading of agricultural produce, commodities, seeds, fertilizers, pesticides, agrochemicals, farm equipment and allied products
2. Agriculture, contract farming, organic farming, horticulture, floriculture, aquaculture, dairy farming, plantation, cultivation and production of agricultural commodities and processing, preservation, packaging, transport, marketing and trading of agricultural produce
3. Manufacturing, processing, formulation, development, branding, marketing, distribution, import, export and dealing in cosmetics, beauty products, personal care products, wellness products, herbal and ayurvedic products, and beauty/salon/skincare/grooming/spa services
4. Digital marketing, branding, advertising, media services, public relations, online platforms, e-commerce solutions, IT-enabled services, software development, mobile applications, website design, cloud services, data analytics, artificial intelligence, machine learning, automation systems
5. Cold storage facilities, warehouses, logistics parks, supply chain infrastructure, transportation, distribution networks and refrigeration services for agricultural and industrial goods
6. Software products, artificial intelligence solutions, blockchain, fintech solutions, enterprise systems, SaaS platforms, IT consulting, system integration and digital transformation services
7. Portfolio management services (PMS), investment advisory, wealth management, financial consultancy, asset management, including AI-based investment analytics and advisory services (subject to SEBI approvals)
8. Consultancy, advisory and management services in business, finance, investment, agriculture, infrastructure, technology, marketing, legal support (excluding practice of law), HR, strategy, operations
9. Infrastructure projects including roads, buildings, industrial parks, utilities, renewable energy, water management systems, and EPC, project management and infra job work services
10. News agencies, media houses, digital content platforms, publishing, broadcasting, advertising, journalism, public communication and information dissemination services
11. Pharmaceuticals, drugs, medicines, healthcare products, bulk drugs, Active Pharmaceutical Ingredients (API), intermediates and related services (subject to applicable laws)
12. Traders, importers, exporters, distributors, agents, brokers, commission agents, service providers and dealers in all kinds of goods, commodities, products and services
13. Any other business, trade or activity ancillary to the above objects or beneficial for the Company
14. Investment, acquisition, subscription, purchase, holding, sale, transfer, trading in shares, stocks, debentures, bonds, mutual funds, units, derivatives, government securities, and other financial instruments (subject to SEBI and regulatory approvals)
15. Trading, investing, hedging, arbitrage, broking, import, export and dealing in commodities including agricultural commodities, metals, energy products and derivatives (subject to SEBI regulations)
16. Insurance business including life insurance, general insurance, health insurance, reinsurance and allied services, and/or acting as corporate agents, brokers, intermediaries, consultants (subject to IRDAI registration and compliance)
Next Steps:
The changes to the Memorandum of Association are subject to shareholder approval through postal ballot process. The financial impact of these business expansions has not been quantified in the disclosure.