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Dilip Buildcon alters main object of MoA for engagement with IOCL

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Dilip Buildcon announced the alteration in the main object clause of the of the company to start new business activity -

- To carry on the business of purchase and sale of petroleum and petroleum products - To act as dealers in and distributors for petroleum companies - To run service station for repair and servicing of automobiles and to manufacture or deal in fuel oils, cutting oils and greases - To explore, develop, produce, purchase or otherwise acquire petroleum crude oil, natural gas, all kinds of hydrocarbons and mineral substances, both onshore, within the territorial jurisdiction of the and anywhere in the World

Dilip Buildcon has its own Consumer pumps at all of their sites and Indian Oil Corporation, being the major supplier of fuel, has proposed to build a brand new model fuel station at one of the sites at their cost. As a routine engagement, will not run this as a business activity and will only act as a service provider.

The inclusion of the above clause is generic and does not mean that shall enter into these businesses. All investments on the and its allied infrastructure like food stalls, restaurants etc. will be funded by IOCL. It will not affect any day to day operations.

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

First Published: Wed, October 10 2018. 11:40 IST