Draft Board Resolution For Incorporation of Wholly Owned Subsidiary

     

Draft Board Resolution For Incorporation of Wholly Owned Subsidiary

“RESOLVED THAT pursuant to the provisions of section 2(87) and other applicable provisions, if any, of the Companies Act, 2013 (Act) and rules made thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force)subject to the memorandum and article of association of the company, the consent of the board be and is hereby accorded to form a subsidiary (wholly owned subsidiary) of ___________________ (name of the company) in ___________(Name of the place) and the details of the same is as under :-

1.   The proposed name and style will be __________ or __________ whichever is available;

2.   Incorporated with an authorized capital of Rs. ___________/- divided into ________ equity shares of Rs. ______/- each; and

3.   Having the objects following objects _____________

4.   The Articles of Association of the subsidiary to be incorporated shall be in line with those of the company.

"FURTHER RESOLVED THAT for the purpose of giving effect to this resolution, Shri ………………….. of the Company be and is hereby authorised, on behalf of the Company, to do all acts, deeds, matters and things as deem necessary, proper or desirable and to sign and execute all necessary documents, applications and returns for the purpose of giving effect to the aforesaid resolution along with filing of necessary E-form with the Registrar of Companies.”

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