Classic Electrodes Board Approves Object Clause Alteration and Sets Dates for EGM

Classic Electrodes Board Approves Object Clause Alteration and Sets Dates for EGM​

Classic Electrodes (India) Limited announced key decisions reached during its Board of Directors meeting held on April 9, 2026. The board approved an alteration to the company's main object clause, along with setting crucial dates for upcoming shareholder actions, including an Extra Ordinary General Meeting (EGM).

The board's decisions included the approval to amend the Memorandum of Association. This proposed alteration aims to expand the company's business scope beyond its existing activities. The revised object clause will incorporate activities related to elastic rail clips, aluminium wire rods, cables and conductors, and various types of steel wires and allied engineering and metal products, in addition to the current business operations.

The company also formalized the schedule for its upcoming shareholder meetings. The board considered and approved the scheduling of the Extra Ordinary General Meeting for Tuesday, May 5, 2026, at 11:00 AM.

Several record dates were established for determining eligible shareholders. The record date for dispatching the notice for the EGM was set as Thursday, April 2, 2026. Furthermore, Tuesday, April 28, 2026, was designated as the cut-off date for determining shareholders eligible for e-voting and attending the EGM and Poll Voting.

The remote e-voting process is scheduled to commence on Friday, May 1, 2026, at 9:00 a.m. and conclude on Monday, May 4, 2026, at 5:00 p.m.

For the remote e-voting and poll voting at the ensuing EGM, the board appointed FCS Himanshu Gupta of M/s. Himanshu SK Gupta and Associates, Practicing Company Secretaries (Mem. No.- F12183 and CP No.- 22596) as the scrutinizer. Additionally, National Securities Depository Limited (NSDL) was appointed as the authorized e-voting agency to facilitate voting through electronic means.

Amended Memorandum of Association Details​

The proposed revision to the Main Object Clause III(A)(a) aims to broaden the company's operational purview. Originally, the clause covered the manufacturing and trading of welding electrodes and allied products. The proposed addition of activities pertaining to elastic rail clips, aluminium wire rods, cables and conductors, and various types of steel wires and allied engineering and metal products is intended to support the company's future growth and expansion plans.

The full scope of the proposed object clause read:
III (A) THE OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION ARE:- (a) To carry on business of manufacturers, smelters, processors, refiners, dealers, importers, exporters, stockists, agents, distributors, suppliers and traders of all kinds of welding electrodes, welding wires, welding cartridges and welding apparatus for manual, semi- automatic and automatic welding including welding transformers, welding rectifiers, stud-welding guns and all parts and accessories relating thereto and also to manufacture, produce, process, buy, sell, import, export and deal in elastic rail clips, aluminium wire rods, cables and conductors and all types of steel wires and allied engineering and metal products, and to carry on also the business of welding and mechanical engineers and contractors.

EGM and Voting Timeline​

The key dates set by the board for the upcoming shareholder events are presented below:

CLASSICEIL Stock Price Movement​

Today, Classic Electrodes (India) Limited shares slipped by 2.06% to settle at ₹54.85. The stock finished down ₹1.15 for the day, witnessing a total traded volume of 22,400 shares.

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