Oil India Limited disclosed the outcomes of its Board of Directors meeting held on Monday, 29th June 2026. The meeting was conducted from 3:30 PM to 6:10 PM.
Key Board Decisions:
1. Promotion of Senior Executives:
The Board approved the promotion of Senior Executives to the position of Executive Directors (one level below the Board of Directors). The specific promotion detailed in Annexure-I is:
- Shri Sumitra Goswami: Currently ED & CEO of Arunachal Gas Pvt. Ltd. (AGPL)
- Qualifications: BE(MECH), MCA
- Company Experience: 36 years and 10 months
- Effective Date: August 1, 2026
2. Alteration of Memorandum and Articles of Association:
The Board recommended alterations to both the Memorandum of Association (MoA) and Articles of Association (AoA), subject to shareholder approval:
A. Memorandum of Association Changes:
- Categorization of the Object Clause into two sections as per Companies Act, 2013 requirements
- Renumbering of objects
- Enhancement of authorized capital from the existing ₹2000 crore (Rupees Two Thousand Crore) to ₹5000 crore (Rupees Five Thousand Crore)
- Addition of enabling clauses in line with the Company's Corporate Strategy and Net Zero Initiatives
B. Articles of Association Changes:
- Modification and alignment of Articles of Association with provisions of the Companies Act, 2013
- Addition of new Articles
- Deletion of redundant Articles