Acquisitions5 Sept 2025, 04:42 pm
Ratnamani Metals & Tubes Ltd Acquires Ratnamani Foundation, A Non-Profit Entity for CSR Activities
AI Summary
Ratnamani Metals & Tubes Ltd, along with its subsidiaries, Ravi Technoforge Private Limited and Ratnamani Finow Spooling Solutions Private Limited, has incorporated a Section 8 company named 'Ratnamani Foundation'. This new entity will serve as an Implementing Agency for the Corporate Social Responsibility (CSR) activities of the company and its subsidiaries, as prescribed under Schedule VII of the Companies Act, 2013. Ratnamani Foundation is a non-profit entity with an object of promotion of commerce, art, science, sports, education, research, social welfare, healthcare, charity, protection of environment or any such other objects/ activities including those enumerated in Schedule VII of the Companies Act, 2013.
Key Highlights
- Ratnamani Metals & Tubes Ltd, along with its subsidiaries, has incorporated a new Section 8 company named 'Ratnamani Foundation'
- Ratnamani Foundation will serve as an Implementing Agency for the Corporate Social Responsibility (CSR) activities of the company and its subsidiaries
- Ratnamani Foundation is a non-profit entity with an object of promotion of commerce, art, science, sports, education, research, social welfare, healthcare, charity, protection of environment or any such other objects/ activities
- The new entity is incorporated under the Companies Act, 2013
- Ratnamani Foundation will apply its profits, if any, and/or other income in promoting its objects; and it shall prohibit the payment of any dividend to its members