Board Resolutions

Draft Board Resolution for Availing Bank Loan/Credit Facility/Overdraft Facility “RESOLVED THAT consent of the Board be and is hereby given for availing Bank Loan/Credit Facility/Overdraft Facility for meeting the ____________ (requirements of the Company) from  ___________ BANK on such terms and conditions, as contained in the Draft Loan Agreement/Loan Sanction Letter/Security Document which is placed before the board and initialed by the … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 123(3) of Companies Act, 2013 the Board of Directors of a company may declare interim dividend during any financial year out of the surplus in the profit and loss account and out of profits of the financial year in which such interim dividend is … Read more

Draft Board Resolution For Change in Authorised Signatory for Bank Account “RESOLVED THAT in supersession of the earlier resolution passed by the Board for authority given by the Company to operate the Current Account No. __________ with the ________  Bank now the following directors of the Company be and are hereby jointly and severally authorised … Read more

Draft Board Resolution For Operation of Bank Account “RESOLVED THAT Shri ______ and Shri __________ be and are hereby severally authorised to operate the banking accounts of the company with _________ Bank and _________ Bank, such authority to operate the banking accounts to include, inter alia, the authority to sign, draw, accept, endorse and negotiate … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 101(1) of the Companies Act, 2013 a general meeting of a company may be called by giving not less than clear twenty-one day’s notice either in writing or through electronic mode in such manner as may be prescribed, Provided that a general meeting may … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 100(1) of the Companies Act, 2013 the Board may, whenever it deems fit, call an Extraordinary General Meeting of the company and as per Section 1oo(2) the Board shall, at the requisition made by,—  (a) in the case of a company having a share … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 203(3) of Companies Act, 2013 a whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time. Hence the KMP of holding company can also be appointed as KMP in its subsidiary company … Read more

(adsbygoogle = window.adsbygoogle || []).push({}); As per the provisions of Section 203(3) of the Companies Act, 2013 a whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company at the same time. Hence the KMP of the holding company can also be appointed as KMP in its … Read more