StockWatch
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Non Banking Financial Company (NBFC)
Business Update17 Jul 2026, 06:51 pm

Mantra Capital Ltd: Board Approves Alteration in MOA Object Clause

AI Summary

Mantra Capital Ltd announced that its Board of Directors, in a meeting held on July 17, 2026, has approved an alteration to the object clause of the company's Memorandum of Association (MOA). This change is subject to the approval of the shareholders at the upcoming 42nd Annual General Meeting. The amended object clause broadens the company's scope to include operating as a Non-Banking Financial Company (NBFC), financing electric vehicles and energy-efficient transport, providing financial assistance to MSMEs, and engaging in Green Finance. The company will no longer carry on the business of underwriting or dealing in securities.

Key Highlights

  • Board approved alteration in Memorandum of Association object clause.
  • Changes include NBFC operations, EV financing, MSME support, and Green Finance.
  • Company will cease underwriting and dealing in securities.
  • Shareholder approval required at the upcoming AGM.
  • Enhances focus on financial services and sustainable initiatives.