Key Event Details
The members of Purity Flexpack Limited approved the alteration of the Articles of Association (AOA) by adopting a new set of AOA through a Special Resolution passed at the Annual General Meeting held on September 5, 2026. The new AOA is designed to align with the Companies Act, 2013.
Reasons for AOA Change
The existing AOA was based on the erstwhile Companies Act, 1956 and contained several regulations that were no longer in conformity with the Companies Act, 2013 and SEBI laws. Numerous changes in applicable laws and the takeover by new management necessitated alterations or deletions of several articles in the existing AOA.
Key Changes in New AOA
- The new AOA has been restructured and aligned with provisions of the Companies Act, 2013, Secretarial Standards issued by the Institute of Company Secretaries of India, and other applicable laws
- References to amended sections, sub-sections, and clauses of the Act have been substituted with new provisions
- The new AOA incorporates "Table-F" of Schedule-I of the Companies Act, 2013, which sets out the model AOA for a company limited by shares
- Specific inclusions of provisions that permit the company to perform certain acts when authorized by AOA, or require the company to act in a prescribed manner unless the AOA otherwise provides
- Chronological serial numbers of clauses have been renumbered during the amendment process