DOES ANY BODY HAVE RESOLUTION FOR MAKING INVESTMENT IN SHARES OF OTHER BODY CORPORATE BY A PRIVATE COMPANY ????
PLZ PROVIDE ME..
THNX IN ADVANCE
6 Replies
Praveen Tripathi
(student)
(62 Points)
Replied 20 July 2010
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS AT THERE MEETING OF THE ABC LIMITED HAVING ITS REGISTERED OFFICE OF AT……………………………. ON MONDEY THE ………………2010
The Chairman informed the Board that the Company has received a proposal to invest the surplus funds in M/s ……….. Which has great potential of development in future the Metter was discussed at length and the following resolution was passed
“RESOLVED THAT the Company be and is hereby authorized to apply/ purchase of ……… Equity shares of Rs. 10/-each at a premium of Rs. …./- each of ………..( name of Company ) amounting to Rs. …../- ( in words).
FURTHER RESOLVED THAT Mr. ……. The Director of the Company be and is hereby authorized to purchase/ make investment in the share an deal, administer, manager the same on behalf of the company including giving power of attorney to sell, alienate, charge and transfer the said share including administration, management, attending meeting, participating/ casting of votes, executing confirmations etc.
For and on behalf of the Board
For………………..
Director/ Authorized Signatory
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 20 July 2010
thnx praveen for prompt reply
CS Vijay Daxini
(At Practice)
(732 Points)
Replied 20 July 2010
i wul like ao add following in abv resolution
acquired shares constituting --------(%) of paid up share capital of (name of acquiree co.)
CS Vijay Daxini
(At Practice)
(732 Points)
Replied 20 July 2010
further there is no mention os sec. of companies act sebi rules and regulation and absence of words this resolution is subject to approval of shareholder if inv. is not within the limit specified by cos. act(10) and other necessary approval
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