https://www.taxtmi.com/caselaws?id=798935 The memorandum's main objects clause governed corporate capacity to invest preferential issue proceeds in virtual digital assets. An amendment placing virtual digital asset activities only among matters necessary for furtherance of existing objects did not amend the company's main objects or create an independent authority to undertake that business. Virtual digital asset activities became authorised only when specifically inserted into the main objects clause. Investments made before certification of that amendment, and consequential actions, fell outside the memorandum, were ultra vires and void, and could not be ratified. en-us Fri, 08 May 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798935 The memorandum's main objects clause governed corporate capacity to invest preferential issue proceeds in virtual digital assets. An amendment placing virtual digital asset activities only among matters necessary for furtherance of existing objects did not amend the company's main objects or create an independent authority to undertake that business. Virtual digital asset activities became authorised only when specifically inserted into the main objects clause. Investments made before certification of that amendment, and consequential actions, fell outside the memorandum, were ultra vires and void, and could not be ratified. Case-Laws SEBI Fri, 08 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798935