Elegant Floriculture & Agrotech India Ltd Alters Memorandum of Association and Initiates Name Change
The Board of Directors of Elegant Floriculture & Agrotech India Limited has approved significant changes to the company's business structure, including broadening its operational scope and initiating a name change.The company's board meeting considered and approved the addition and alteration to the Object Clause of the Memorandum of Association (MoA). This amendment extends the company’s mandate into infrastructure development and construction, subject to shareholder approval in the ensuing general meeting and other necessary approvals.
Under the altered Main Object specified in Clause 3(a), the company is expanding its activities to encompass various aspects of real estate and civil engineering projects. These new business objectives include:
| Business Activity | Scope Details |
|---|---|
| Land Acquisition & Use | Acquiring, buying, selling, leasing, developing, holding, and utilizing estates or properties. |
| Construction Roles | Carrying on the business of builders, developers, contractors, sub-contractors, and civil engineers. |
| Project Focus Areas | The construction, execution, maintenance, improvement, and operation of all types of buildings, houses, commercial complexes, townships, industrial parks, and public infrastructure projects (including roads, highways, bridges, and flyovers). |
| Market Roles | Acting as project managers, architects, consultants, traders, dealers, importers, and exporters of building materials, equipment, and machinery. |
In a related strategic move, the board meeting also sanctioned the change of the company’s name. The current name, Elegant Floriculture & Agrotech India Limited, is being changed to Elegant Infrastructure Limited or another name that may be approved by the Central Registration Center (CRC) under the Ministry of Corporate Affairs.
Stock Price Movement
Elegant Floriculture & Agrotech India Ltd is ticking down at ₹4.82 as of 15:16, having dipped by 1.03%. Throughout the trading session, shares moved within an intraday range stretching from a low of ₹4.63 to a high of ₹5.06.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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