Parshwanath Corporation Approves Adoption of New Memorandum and Articles of Association
Parshwanath Corporation Ltd announced that its Board of Directors has approved the adoption of a new set of the company's Memorandum of Association (MOA) and Articles of Association (AOA). The decision was formalized during a board meeting held on July 30, 2026.The changes pertain to the foundational constitutional documents of the corporation. The proposed shift involves replacing the existing MOA and AOA, which were structured according to the Companies Act, 1956.
The primary reason for updating these documents is to amend and align both the Memorandum of Association and Articles of Association with the applicable provisions of the Companies Act, 2013 and the associated rules as they have been amended over time.
According to a disclosure detailing the corporate change, the adoption of the new MOA and AOA in substitution of the existing documents is currently approved by the Board of Directors. However, this adoption remains subject to the requisite approval of the shareholders through a Special Resolution, along with any other necessary statutory or regulatory approvals.
Details regarding the constitutional changes are provided below:
| Particulars | Details |
|---|---|
| Existing Constitutional Documents | Existing Memorandum of Association and Articles of Association were governed by the Companies Act, 1956. |
| Proposed Change | Adoption of a new set of Memorandum of Association and Articles of Association in substitution of existing MOA and AOA, aligned with the Companies Act, 2013. |
| Reason for the Change | To amend and align the documents with the applicable provisions of the Companies Act, 2013 and its rules. |
| Current Approval Status | Approved by the Board of Directors, pending shareholder approval via a Special Resolution and other necessary approvals. |
Stock Price Movement
As of 13:44, shares of Parshwanath Corporation Ltd are ticking up, currently priced at ₹79.80, following a solid +5.00% gain. The stock is trading completely flat as its intraday high and low remain locked at the current level of ₹79.80.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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