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| Exchange Received Time 29/09/2017 14:36:44 Exchange Disseminated Time 29/09/2017 14:36:53 Time Taken 00:00:09 | The Shareholders of the Company at their Annual General Meeting (AGM) held on Wednesday, 27th September 2017 at the Hotel Ajantha, 22 M.G.Road, Bangalore 560001, has considered and approved the adoption of new set of Articles of Association.
In brief:
The Articles of Association ('AOA') of the Company in force until the AGM were put in place. When the Company was incorporated in 1985. These AOA are based on the Companies Act, 1956 and several regulations in the previous AOA contained references to specific sections of the Companies Act, 1956 and some regulations in the previous AOA are no longer in conformity with the Act.
With the coming into force of the Act several regulations of the previous AOA of the Company require alteration or deletion in several articles. Given this position, it is considered expedient to wholly amend the previous AOA with a new set of Articles.
The new AOA to be substituted in place of the existing AOA are based on Table `F' of the Act which sets out the model articles of association for a company limited by shares. The new draft AOA had been uploaded on the Company's website for perusal by the Shareholders.
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