On January 24, 2025, Binani Industries Limited held a Board of Directors meeting and approved a significant decision regarding the company’s future identity. The Board considered and approved the proposal for a change in the company’s name to "BIL Enterprise Limited" or any similar name, subject to the availability and approval by the regulatory authorities and the shareholders. This decision reflects the company’s evolving strategies and focus areas.

Name Change Process and Approval

The Board of Directors has decided to proceed with the name change through a postal ballot, ensuring a transparent process for obtaining shareholder approval. A draft notice of postal ballot was approved during the meeting, and the company has authorized the Company Secretary and the Managing Director to make the necessary amendments in the notice. The changes would seek shareholder approval for the name change and the required alterations to the Memorandum of Association (MOA) and Articles of Association (AOA) of the company.

The Postal Ballot process is in line with the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring that all corporate governance norms are met. The final decision will depend on the approval of the shareholders through this ballot, which will be conducted shortly.

Scrutinizer Appointment

In order to maintain transparency and ensure a fair voting process, the company has appointed M/s. HD and Associates, a well-known Practicing Company Secretaries firm, as the Scrutinizer for the Postal Ballot. This move is part of the company’s commitment to adhering to best practices in corporate governance and ensuring that the process of name change is carried out seamlessly.

The meeting of the Board of Directors commenced at 11:30 A.M. and concluded at 12:00 P.M. on January 24, 2025. This marks a significant step forward for Binani Industries as it moves towards a potential new identity under the name BIL Enterprise Limited.

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