Bajaj Nivesh Limited (formerly Maharashtra Scooters Limited) has officially approved the alteration of its Memorandum of Association (MOA) object clause. This significant change, ratified by shareholders via postal ballot and registered by the Ministry of Corporate Affairs, realigns the company’s business focus. Key amendments include the deletion of old manufacturing objects and the prominent inclusion of renewable energy generation and investment business as principal activities, signalling a strategic pivot.
Strategic Business Realignment Approved
Bajaj Nivesh Limited, previously known as Maharashtra Scooters Limited, has announced the successful approval and registration of alterations to its Memorandum of Association (MOA). This pivotal decision was initially passed by the company’s shareholders through a postal ballot on 27 September 2026. Subsequently, the Ministry of Corporate Affairs (MCA) formally registered these changes on 19 October 2026, confirming the legal adoption of the new objectives.
Key Changes to Company Objects
The principal changes to the MOA’s object clause are designed to reflect the company’s evolving business strategy. These include:
- Deletion of Manufacturing Objects: The company will no longer pursue manufacturing and assembly of scooters and other automotive activities that are no longer conducted.
- Emphasis on Investment Business: The investment business object has been retained and repositioned as a principal object, aligning with current business activities.
- Inclusion of Renewable Energy: A significant new object has been added to enable the company to engage in the generation, production, purchase, sale, supply, transmission, distribution, and trading of electricity and energy derived from renewable and non-conventional sources.
- Ancillary Amendments: Consequential amendments have been made to related ancillary and incidental clauses to ensure coherence with the updated primary objectives.
This strategic shift indicates a move towards expanding its footprint in the renewable energy sector and solidifying its investment portfolio.
Source: BSE
