Board Approval and Effective Date
The Board of Directors of N2N Technologies Limited approved the change in nature of business at its meeting held on August 12, 2026. The change becomes effective from August 13, 2026.
Business Change Details
The Company will cease to carry on its existing business of IT and Software Consulting effective August 13, 2026. All employees/consultants from the IT division have been relieved from the services of the Company.
Reason for Change
The change is pursuant to the change in management and control of the Company consequent to the recently concluded Open Offer made by Harmony Remedies Private Limited along with Firoze Kapadia and Aditi Parikh. The change is intended to align the business activities with the strategic direction of the new management.
Impact and Future Business
The Company will discontinue its IT and Software Consulting business and will evaluate/undertake other business activities in accordance with the strategic plans of the new management, subject to applicable laws and regulatory approvals where required.
Financial Implications
The disclosure explicitly states that since the Company will no longer carry on its IT business, the financial implications arising from the change cannot presently be quantified.