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Board of Ravindra Energy approves alteration of object clause

Capital Market 

At meeting held on 13 August 2019

The Board of Ravindra Energy at its meeting held on 13 August 2019 has approved the following -

Ramnath Sadekar as an Additional Director to hold office of Non- Executive Director with effect from 13 August 2019.

The Board has noted Narendra Murkumbi - Non- Executive Director, from the office of the Director with effect from the close of business hours on 13 August 2019 due to personal reasons and other commitments.

With an intention to diversify into additional line of business, the Board of Directors proposed alteration of the objects Clause III (A) by inserting additional clauses relating to automobile and hotels & resorts business in the Memorandum of Association of the Company.

currently, the company is engaged in the business of generation and supply of power and trading activities. Taking into consideration the upcoming demand for electric vehicles, their batteries and associated charging infrastructure and hospitality business, the Board of Directors has proposed to alter the Objects Clause of the Memorandum of Association, so as to enable the Company to commence its new line of business in addition to the existing business.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 19 2019. 18:40 IST
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