Draft Board Resolution For Appointment of Bankers to the Issue (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the following Banks be and are hereby appointed as Bankers to the proposed issue of the company and that separate accounts under the name and style of ________ Limited -Equity Issue Account be opened with each of the … Read more
Draft Board Resolution For Approval of Prospectus (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT subject to the approval of the Financial Institutions, Stock Exchanges, etc. the draft Red Herring Prospectus (RHP) offering _______ equity shares of Rs. ___ each for cash at par, submitted to this meeting, duly initialed by the chairman for the purpose … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 55(2) of Companies Act, 2013 Preference Shares can only be redeemed either out of the profits of the company which would otherwise be available for dividend or out of the proceeds of a fresh issue of shares made for the purposes of such redemption … Read more
(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 2(60) of the Companies Act 2013 officer who is in default‖, for the purpose of any provision in this Act which enacts that an officer of the company who is in default shall be liable to any penalty or punishment by way of imprisonment, … Read more
Draft Board Resolution for Forfeiture of Shares (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT pursuant to Article No ____ of the Articles of Association of the company and other applicable provisions, if any, of the Companies Act, 2013, Listing Regulations and the Listing Agreement, consent of the Board of directors of the company be and … Read more
Draft Board Resolution For Splitting Share Certificate (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT the original Certificate No. __ for ______ Equity shares of Rs. 10 each having distinctive No. …….. to ……… held in the name of _______ be cancelled and sub-divided certificates as noted below, be issued in lieu thereof under the Common … Read more
Draft Board Resolution For Lease Agreement (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED THAT consent of the board be and is hereby accorded to take on lease _________ (brief description of asset) from _____________ for the use of the Company on the terms and conditions set out in the draft Lease Agreement a copy of which … Read more
Draft Board Resolution For Closing Bank Account (adsbygoogle = window.adsbygoogle || []).push({}); If a company wants to close its current bank account it has to take the approval of its board by way of passing board resolution in this regard. The different banks have their own format of application for making a request for the … Read more
Draft Board Resolution For Letter of Credit “RESOLVED THAT the consent of the Board of Directors of the Company be and is hereby accorded to apply for opening of the Letter of Credit (“the LC”) in favour of ………………… for Rs.………..with the …………. Bank” (adsbygoogle = window.adsbygoogle || []).push({}); “RESOLVED FURTHER THAT Shri ____________ of … Read more
