Duke Offshore Limited’s Board of Directors has approved significant changes, including an alteration of the Object Clause in its Memorandum of Association to explore new business opportunities in mining, energy, and AI. Additionally, the Board has proposed an increase in the authorized share capital from ₹30 crore to ₹100 crore. Other key approvals include the shifting of the registered office and the regularization/appointment of several directors.
Duke Offshore Board Approves Key Strategic Moves
The Board of Directors of Duke Offshore Limited, in a meeting held on August 31, 2026, has given its nod to several pivotal proposals aimed at expanding the company’s operational scope and financial capacity. These decisions are set to be presented for shareholder approval at the upcoming 40th Annual General Meeting.
Expansion into New Business Verticals
A major highlight of the board meeting was the approval to alter the Object Clause of the Memorandum of Association (MOA). This amendment will enable the company to diversify and explore business opportunities in sectors such as Mining & Natural Resources, Power, Energy & Marine Resources, and Artificial Intelligence, Data Centres & Advanced Technology. The proposed changes aim to provide a broader framework for future growth and business activities.
Significant Increase in Share Capital
In a move to support its expansion plans and future ventures, the Board has approved a substantial increase in the company’s authorised share capital. The capital will be raised from ₹30,00,00,000 (₹30 Crore) to ₹100,00,00,000 (₹100 Crore). This is divided into an increase from 3,00,00,000 equity shares to 10,00,00,000 equity shares, each with a face value of ₹10.
Operational and Governance Approvals
The Board also approved the shifting of the registered office from Prabhadevi to Bandra (West) in Mumbai, subject to regulatory formalities. Furthermore, recommendations for the regularization and appointment of several directors were approved. This includes the regularization of Mr. Ashutosh Janak Kumar Thakar as a Whole-Time Director, and the proposed appointments of Mr. Rajesh Chunilal Bhojani, Mr. Vaibhav Agarwal, and Mr. Arjun Bikas Dutta as Independent Directors for a term of five consecutive years.
Sale of Assets and AGM Details
A proposal for the sale or disposal of certain company assets was also considered and approved, subject to necessary approvals and finalization of terms. The Board has scheduled the 40th Annual General Meeting for September 30, 2026, to be conducted via Video Conferencing or Other Audio Visual Means. To facilitate member participation, the cut-off date for e-voting eligibility has been set for September 23, 2026, and the register of members will be closed from September 24 to September 30, 2026.
The appointment of National Securities Depository Limited (NSDL) as the e-voting/AGM service provider was also approved.
Source: BSE
