Nikita Greentech Recycling Limited Announces Board Decisions
Nikita Greentech Recycling Limited (formerly Nikita Papers Limited) announced several key decisions following a board meeting held on March 30, 2026. The meeting commenced at 12:00 Noon (IST) and concluded at 3:52 P.M. (IST).Registered Office Relocation
The Board approved the relocation of the company’s registered office from Delhi to Uttar Pradesh, specifically to C-10, Industrial Estate, Panipat Road, Shamli, Uttar Pradesh - 247 776. The change aims to enhance administrative convenience, operational efficiency, and management control through proximity to the company’s manufacturing unit and key business operations. This decision is subject to shareholder approval, Central Government (Regional Director) approval, and approvals from Stock Exchanges and other relevant regulatory and statutory authorities.Expansion of Business Activities
The Board also approved alterations and additions to the Memorandum of Association (MOA) to expand the company's business activities. These changes encompass diversification of revenue streams, enhanced operational flexibility, and support for long-term sustainable growth. The company confirmed that this expansion remains consistent with its core operations and does not alter the existing objects for which funds were raised through its prospectus.Revised Related Party Transaction Policy
Nikita Greentech Recycling Limited adopted a revised Related Party Transaction (RPT) Policy, aligning with recent amendments to Regulation 23 of the Listing Regulations. The revisions include enhanced disclosure requirements and guidance for Audit Committee and shareholder approval. The revised policy is available on the company’s website at www.nikitagreentechrecycling.com.The company will inform the Stock Exchange of the date of an upcoming Extra-Ordinary General Meeting (EGM) or Postal Ballot for shareholder approval of these matters.
Table: Alterations/Additions to the Memorandum of Association (MOA)
| S. No. | Alteration/Addition Detail |
|---|---|
| 1 | The Main Object Clause (Clause 3. (a) I) will be altered to focus on manufacturing, processing, recycling, converting, trading, and dealing in various paper-based materials and allied products. |
| 2 | New ancillary objects (Clauses 3. (b) 39-44) are being added, including activities related to Extended Producer Responsibility (EPR), government collaborations, electricity generation, sale of gaseous by-products, investment of surplus funds, and loans/advances. |
| 3 | Clause 2 of the Memorandum of Association will be altered to reflect the Registered Office’s location in Uttar Pradesh. |
Nikita Greentech Recycling Limited confirmed that no inquiries, inspections, or investigations are pending against the company and that the relocation does not violate any regulatory restrictions.
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