Reliance Industries Limited has successfully passed resolutions during a postal ballot process, approving material related party transactions and a significant alteration to its Memorandum of Association (MOA). The MOA changes will allow the company to expand its business into the production, manufacturing, and trading of a wide array of chemicals, including ammonia, nitric acid, ammonium nitrate, and related downstream products, as well as explosives and fertilizers. These resolutions were passed with the requisite majority on August 20, 2026.
Shareholder Approval for Business Expansion
Reliance Industries Limited announced today that its shareholders have overwhelmingly approved key resolutions concerning material related party transactions and a significant amendment to the company’s Memorandum of Association (MOA). The voting, conducted via postal ballot and remote e-voting, concluded on August 20, 2026, with all resolutions passing with the requisite majority.
Expanded Business Scope Approved
The most notable outcome is the approval for an alteration to Clause III.A. of the MOA, which will introduce a new sub-clause 14. This amendment grants the company the authority to engage in a broader range of business activities. Specifically, it empowers Reliance Industries to act as producers, manufacturers, refiners, processors, blenders, formulators, converters, handlers, packagers, transporters, buyers, sellers, importers, exporters, and distributors of various chemicals and related products. These include, but are not limited to, ammonia, nitric acid, ammonium nitrate (AN) of various grades, ammonium nitrate fuel oil (ANFO), and other explosives for civilian, industrial, and defence applications. The scope also extends to fertilizers and agro-chemicals, along with their raw materials, feedstocks, and associated chemicals. The company can now undertake these activities both in India and abroad.
Material Related Party Transactions Ratified
In addition to the MOA alteration, shareholders also approved resolutions pertaining to material related party transactions of the company and its subsidiaries. These approvals were crucial for ensuring continued operational alignment and strategic partnerships.
E-voting Results
The voting results, as detailed in the provided documents, show strong support for all proposed resolutions. For Resolution 1 (Approval of Material Related Party Transactions of the Company) and Resolution 2 (Approval of Material Related Party Transactions of Subsidiaries of the Company), the votes in favour significantly exceeded the required majority, with over 99% of the votes polled being in favour for both Ordinary Resolutions. Resolution 3, the Special Resolution for the alteration of the Objects Clause of the MOA, also saw overwhelming approval, with 99.9967% of the votes in favour.
Source: BSE
