Autoriders International Approves MOA Changes & Borrowing Limit Hike
Autoriders International Ltd's Board of Directors has approved significant corporate actions, including the adoption of a new Memorandum of Association (MOA) aligned with the Companies Act, 2013, and an alteration to its object clause to include renewable energy activities. Additionally, the board approved an increase in borrowing limits from ₹100 crores to ₹200 crores under sections 180(1)(a) and 180(1)(c) of the Companies Act, 2013, subject to member approval. Mrs. Maneka Vijay Mulchandani was re-designated as Executive Director for three years. The company also appointed M/s. HRU & Associates as Secretarial Auditors for five years.
Key Highlights
- Board approves new MOA and object clause alteration for renewable energy.
- Borrowing limits increased to ₹200 crores, subject to member approval.
- Mrs. Maneka Vijay Mulchandani re-designated as Executive Director.
- Secretarial Auditors appointed for a five-year term.
- All changes require member and regulatory approvals.
Price Impact
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