REDTAPE board approves major expansion into health and wellness, KMP authorization

REDTAPE Limited announced that its board of directors, at a meeting held on Thursday, August 28th, 2025, approved an alteration to the object clause of the Memorandum of Association. This amendment, subject to shareholder approval, will expand the company's business activities by adding "Sub-Clause 5" to the main Object of Clause (III)(A). The new clause outlines plans to carry on business, including purchasing, selling, distributing, manufacturing, and providing platforms for products across India and abroad, leveraging e-commerce and other channels.

The expanded business scope encompasses diverse product categories, including beauty, fitness, personal health care, skin care, hair care, diet-related products, home remedies, homeopathy, ayurvedic, herbal, other alternative medical or therapeutic treatments, and wellness products and equipment. The company plans to utilize online portals, websites, e-commerce, m-commerce, internet, intranet, stores, stalls, and kiosks for its operations.

Furthermore, the board authorized four key managerial personnels (KMPs) for determining the materiality of events and making disclosures to stock exchanges, as per Regulation 30(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The authorized KMPs are Mr. Shuja Mirza (managing director), Mr. Arvind Verma (whole-time director), Mr. Vivek Agnihotri (chief financial officer), and Mr. Akhilendra Bahadur Singh (company secretary and compliance officer).