Ramsons Projects Limited , a company undergoing significant structural changes, has announced key developments in its corporate governance and business focus. The company's Board of Directors, in a meeting held on October 15, 2025, approved several important matters that signal a shift in its operational direction.

New Internal Auditor Appointment

The company has appointed Mr. Piyush Rampuria as its new Internal Auditor, effective September 1, 2025. This appointment follows the resignation of Mr. Aman Bajaj from the same position on August 30, 2025. Mr. Bajaj cited preoccupation with other assignments as the reason for his departure.

Mr. Rampuria, a Chartered Accountant and member of The Institute of Chartered Accountants of India, brings extensive experience in audit, assurance, and internal control systems to his new role. His appointment is initially set for the period from September 1, 2025, to March 31, 2026, with the possibility of extension on mutually agreed terms.

RBI Approval and Business Restructuring

In a significant move, Ramsons Projects received approval from the Reserve Bank of India (RBI) on September 17, 2025, for the voluntary surrender of its Non-Banking Financial Company (NBFC) registration. This approval paves the way for the implementation of amendments to the company's Memorandum and Articles of Association, which were previously approved by shareholders at the Annual General Meeting held on June 19, 2025.

The key changes include:

1. Adoption of a new Memorandum of Association aligned with the Companies Act, 2013.
2. Alteration of the Main Objects Clause, signaling a shift in the company's primary business focus.
3. Adoption of a new set of Articles of Association.

Revised Business Focus

The amended Main Objects Clause in the Memorandum of Association reveals a significant pivot in Ramsons Projects' business strategy. The company's focus has shifted towards:

1. Real estate development and construction
2. Infrastructure development
3. Healthcare services
4. Trading activities

This diversification represents a substantial change from the company's previous operations as an NBFC.

Industrial Activity Code Change

In line with its revised objectives, Ramsons Projects has also changed its Industrial Activity Code. This administrative change aligns the company's official classification with its new business direction.

These developments mark a transformative period for Ramsons Projects Limited as it moves away from its NBFC status and embraces a more diversified business model focused on real estate, infrastructure, healthcare, and trading activities. The appointment of a new Internal Auditor also underscores the company's commitment to maintaining robust internal controls during this transition phase.

Ramsons Projects Limited has successfully concluded its journey as a Non-Banking Financial Company (NBFC) and is set to embark on a new path in the real estate sector. The company recently received approval from the Reserve Bank of India (RBI) to surrender its NBFC license, marking a significant shift in its business strategy.

RBI Approval and License Surrender

The Reserve Bank of India has accepted Ramsons Projects' voluntary surrender of its Certificate of Registration (CoR) as an NBFC. This approval came through an email dated September 19, 2025, under Section 45-IA of the Reserve Bank of India Act, 1934. The company had initiated this process earlier in March 2025, demonstrating a planned transition in its business model.

Historical Context

Ramsons Projects' journey as an NBFC began on May 15, 1998, when it was issued the Certificate of Registration No. 14.00774. This certificate remained valid until September 19, 2025, spanning over two and a half decades of operations in the financial sector.

Business Transition

With the surrender of its NBFC license, Ramsons Projects will cease its primary activities of granting loans and undertaking investments. The company has announced its decision to pivot its principal business activity from NBFC operations to the Real Estate sector.

Regulatory Compliance

In compliance with regulatory requirements, Ramsons Projects has duly informed the BSE Limited about this development. The company's Company Secretary and Compliance Officer, Ashwarya Maheshwari, submitted the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Impact and Future Outlook

This strategic shift is expected to have a significant impact on Ramsons Projects' business model and operations. By transitioning from financial services to real estate, the company is positioning itself to capitalize on opportunities in the property market. Stakeholders will be keen to observe how this change affects the company's financial performance and market position in the coming quarters.

As Ramsons Projects embarks on this new chapter, the real estate industry and investors will be watching closely to see how the company leverages its experience and resources in this new sector.