A company, which had listed as a trader in vitrified tiles in 2022, has raised a few eyebrows and invited tongue-in-cheek comments for trying to change its name to include “artificial intelligence”.”
Dhyaani Tile and Marblez, through an exchange filing on October 17, informed about the various outcomes of a Board meeting and these included approval for the change of its name to Dhyaanii Artificial Intelligence Limited or Dhyyaani Artificial Intelligence Limited or “such other name applied for and is available & approved by Ministry of Corporate Affairs (MCA); subject to the approval of shareholders in the ensuing Extra-Ordinary General Meeting”.
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Moneycontrol has reached out to the company for a comment and the article will be updated as and when the company responds.
Veteran trader and founder of Helios Capital Samir Arora posted about the exchange filing: “We finally have an Artificial Intelligence company in India. You can also buy tiles and marbles from the same company.”
Comments under this post were sceptical, if not outright mocking.
The Money Memo (@themoneymemo) posted: “Us: spends countless hours perfecting our AI algorithm on interpolations and time series predictions / Dhyaani: Changes name to AI Pvt Ltd”.
Another post said that artificial intelligence (AI) is the new fantasy nowadays, and yet another suggested that they add “green” too to the name to re-rate PE further.
Some people called attention to the craze for companies that had “tech” in their name during the tech boom and for those that had “infra” in their name in 2007-08.
One person wrote in defence of the company, calling attention to the change in object clause of the company and adding that therefore the change in name has been suggested.
In the same meeting, the company Board has also approved the alteration of the Main Object of the company and subsequent alteration of a clause in its Memorandum of Association, subject to shareholder’s approval in the coming Extra-ordinary General Meeting.
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The Board has also approved the issue of nine bonus shares for every five held by the Equity Shareholders of the company as on “Record Date”, subject to shareholder and regulatory approvals; and the incorporation of a wholly owned subsidiary in the name of Dhyani Cyberrnest Private Limited or such other name applied for and is available & approved by Ministry of Corporate Affairs (MCA).
The Extra-Ordinary General Meeting (EOGM) of the Company is scheduled to be held on Saturday, November 18, at 12:00 pm at the registered office of company, the exchange filing informed.
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