Board Resolution for Exercise of Lien on Shares
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“RESOLVED THAT pursuant to
article ………….. of the Articles of Association of the Company, the right
of lien on ……………. equity shares held by …………… shareholders
as per list tabled before the Board be exercised by the Company in view of the
non-payment of allotment money of Rs………….. per share payable on or
before ……………………”
article ………….. of the Articles of Association of the Company, the right
of lien on ……………. equity shares held by …………… shareholders
as per list tabled before the Board be exercised by the Company in view of the
non-payment of allotment money of Rs………….. per share payable on or
before ……………………”
“RESOLVED FURTHER THAT until
the amount outstanding on account of allotment money is paid, the dividend
payable on such shares be retained by the Company and applied towards the amount so outstanding and that …………….., be and is hereby authorized
to give notice of such lien to the holders of such shares and secure possession
of the aforesaid share certificate to be retained in the custody of the
Company.”
the amount outstanding on account of allotment money is paid, the dividend
payable on such shares be retained by the Company and applied towards the amount so outstanding and that …………….., be and is hereby authorized
to give notice of such lien to the holders of such shares and secure possession
of the aforesaid share certificate to be retained in the custody of the
Company.”
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