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Rights issue of unlisted public limited company

dipali shinde (company secretary) (163 Points)

19 January 2012

Can anyone please provide Board Resolution for issue and allotment of equity shares on Rights basis under Section 81(1) of the companies Act, 1956.

Thanks in advance

Regards

Dipali Shinde

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"RESOLVED THAT 2,00,000 equity shares of ` 10 each (hereinafter
referred to as new shares) be issued by the company, for cash at par, and in
pursuance of section 81(1) of the Companies Act, 1956, the new shares be
offered to the persons whose names appear on the Register of Members of the
company as the holders of shares in the company on the ....th day of .........., in the
proportion of one new share for each equity share held by them.”

“RESOLVED FURTHER THAT the Equity Shares so issued shall upon
allotment have the same rights of voting as the existing equity shares and be
treated for all other purposes pari-passu with the existing equity shares of the
Company and that the equity shares so allotted during the financial year shall be
entitled to dividend, if any, declared including other corporate benefits, if any, for
the financial year in which the allotment has been made and subsequent years.”

“RESOLVED FURTHER THAT the aforesaid offer shall be valid upto the
……th day of February, ....., and includes a right exercisable by the person to
whom the aforesaid offer being made to renounce the new shares offered to him
in favour of any other person.”

“RESOLVED FURTHER THAT after the expiry of the …..th day of
February, ..... or on receipt of earlier intimation from the person(s) to whom such
notice was given that he declines to accept the new shares offered, the Board of
directors of the company be authorised to dispose of unsubscribed part of the
new shares in such manner as they think most beneficial to the company."