changes in object clause

hi,

A limited compnay listed in b.s.e wants to change its main object clause.At present it is mainly into I.T & B.P.O industry.Now it wants to start a new business of mining & construction & same  would be the main business of the company.

what are the procedures & compliance required to fulfill by the company & its members.

Is it possible to buy a full pramoter stake in the company having around 70 to 75 % stake in the listed company.? what are the procedures & weather stake of the pramoters  has to be bought only thrg b.s.e or just be submitting transfer forms duly signed by the both the parties are enough.

kindly advice.

Thanks

Rupesh shah.

Replies (1)

Hi

for change of object cluase in listed company you have to obtain the approval of shareholder through postal ballot. Also comply with postal ballot rules as prescribed. file 23 for change of object clause along with Change MOA.

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