17 November 2013
Specimen of Board resolution to transfer unpaid/unclaimed dividend to the Investor Education and Protection Fund
The Chairman informed the Board that as per the provisions of section 205C of the Companies Act, 1956 (1 of 1956), the Company is required to transfer unpaid/unclaimed Dividend for the year 1998-99 to the Investor Education and Protection Fund of the Central Government, after expiry of seven year from the date of transfer of the said Dividend to the special account created for transfer of unpaid dividend.
He also informed the Board that the Company is required to submit Forms alongwith the Challans for payment of unpaid dividend. The Chairman suggested that looking to the formalities involved the Company should authorise somebody to complete the formalities. The Board considered the matter and after due discussion passed the following resolution unanimously:
RESOLVED THAT Shri VB, the Managing Director and/or Shri MPK, the Manager Finance of the Company be and are hereby authorised to take all the necessary steps for transfer of Unpaid/Unclaimed Dividend of Equity Shareholders for the year 1998-99 to the Investor Education and Protection Fund of the Central Government on the date as prescribed as per the provisions of section 205C of the Companies Act, 1956.
FURTHER RESOLVED THAT Shri VB, the Managing Director of the Company be and is hereby authorised to sign Form 1 on behalf of the Company.
FURTHER RESOLVED THAT Shri VB, the Managing Director of the Company be and is hereby authorised to give Power of Attorney in favour any consultant for and on behalf of the Company to complete the required formalities as he may consider appropriate in the interest of the Company.
FURTHER RESOLVED THAT Shri VB, the Managing Director and/or Shri MPK, the Manager Finance of the Company be and are hereby severally authorised to submit the necessary forms, declarations and to make any corrections, modification, deletion etc. as may be directed by the Registrar of Companies for the above said purpose.
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