A 100 year old wood products company is now planning a big entry into iron and steel business.
The Indian Wood Products Co. Ltd. informed the exchange on October 05, 2026 about the outcome of its 792nd Board Meeting held today.
What The Board Approved
The board meeting started at 12:15 P.M. and concluded at 1:45 P.M. The board approved three things:
| No. | Approval |
|---|---|
| 1 | Amendment in Object Clause of Memorandum of Association by adding new clause 49, subject to shareholders approval |
| 2 | Notice of Postal Ballot to seek approval of shareholders for MOA amendment |
| 3 | Appointment of M Shahnawaz and Associates, Practicing Company Secretary, as Scrutinizer for e-voting through postal ballot |
New Business Planned
As per Annexure A, the new object to be added under Clause 49 is to carry on business of iron and steel.
Company plans to deal in iron ore and steel of all types, ferro silicon, ferro chrome, coking coal, manganese, limestone and other alloys.
It also plans to act as miners, smelters, iron founders, and to deal in stainless steel, silicon steel, special steel, mild steel and allied products like bauxite, cement chemicals, fertilizers and gases.
Further, company plans to construct and manage iron and steel works, coke oven, foundries, furnaces, railway, roads, power houses, and to undertake consultancy services in this field.
Conclusion
The Indian Wood Products Co. Ltd. held its 792nd board meeting on October 05, 2026 from 12:15 P.M. to 1:45 P.M.
In this meeting, the board approved amendment in the Object Clause of MOA by inserting new Clause 49 for iron and steel business.
The company will now seek shareholders approval through postal ballot and e-voting.
For conducting the e-voting, M Shahnawaz and Associates has been appointed as Scrutinizer. This marks a big diversification from wood business to steel and mining business.