Board Resolution

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SUDIPTA MAITY

SUDIPTA MAITY (Querist)
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26 February 2009 I need a board resolution draft copy for incresing authorised capital.

Sudipta

Neha Singhi

Neha Singhi (Expert)
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26 February 2009 Authorised capital can be increased in a General Meeting only
DRAFT RESOLUTION
"RESOLVED THAT pursuant to the provisions of section 94 of the Companies Act, 1956 and other applicable provisions of the Companies Act, 1956, if any, the authorised capital of the company be increased from Rs. 12,00,000 to Rs. 24,00,000 by the creation of 1,20,000 equity shares of Rs. 10 each ranking for dividend and in all other respects pari passu with the existing equity shares in the company."
Special resolution for consequential amendment of Articles of Association

"RESOLVED THAT pursuant to the provisions of section 31 of the Companies Act, 1956 and other applicable provisions of the Companies Act,1956, if any, the Articles of Association of the Company be altered in the manner following:—
"That Article 4 shall be deleted and the following new Article 4 is substituted
therefor:
4. The Authorised Capital of the company is Rs. 24,00,000 divided into
2,40,000 equity shares of Rs. 10 each."