Board resolution reqd

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2015 Dear All

Can anyone please provide the board resolution format for selling investments constituting 5% of paid up capital and free reserves of the investee company.

Thanks

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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14 January 2015 DRAFT RESOLUTION FOR SALE/DISPOSAL OF INVESTMENT

“RESOLVED THAT pursuant to provisions Section 179(3) and other applicable provisions, if any, of the Companies Act, 2013 read with the Rule 8(6) of the Companies (Meetings of Board and its Powers) Rules, 2014, including any amendment thereto from time to time, the consent of the Board of Directors of the Company be and is hereby given for sale/disposal up to ________ Equity Shares of Rs.10/- each of _____ (Investee Company) held by the Company constituting __% of paid up share capital and free reserve of investee company for a consideration aggregating to Rs. _____________

RESOLVED FURTHER THAT any of the Directors of the Company be and is hereby severally authorised for and on behalf of the Company to deal, negotiate, finalise, represent, sign, execute and deliver share transfer form, agreement(s), deed(s), memorandum(s) and such other necessary papers, documents, if any, required and to file relevant Forms with the Registrar of Companies / Ministry of Corporate Affairs by affixing digital signature thereto and to do all such acts, deeds, matters and things which may deem necessary, incidental, desirable or pertinent in this behalf.

RESOLVED FURTHER THAT a certified true copy of the resolution issued under signature of any of the Directors of the Company be submitted to whomsoever it may concern.”

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2015 Dear Mitesh Ji

Thank you so very much for your help!!

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Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2015 Dear Mitesh Ji

Thank you so very much for your help!!