In accordance with the provisions of the Companies Act, 2013, and the Companies (Share Capital and Debenture) Rule, 2014, the following draft board resolution outlines the process for the allotment of shares on a right issue basis.
Format of Draft Board Resolution for Allotment of Share on Right Issue Basis
[Company Name]
[Registered Office Address]
BOARD RESOLUTION FOR ALLOTMENT OF EQUITY SHARES ON RIGHT BASIS
Date: [Date]
At a meeting of the Board of Directors held on [Date], the following resolution was passed:
“RESOLVED THAT pursuant to the provisions of Section 62 and all other applicable provisions of the Companies Act, 2013, and the Companies (Share Capital and Debenture) Rule, 2014, and any statutory modifications or re-enactment thereof, to the extent notified for the time being in force (“Companies Act, 2013”), the consent of the Board be and is hereby accorded to issue equity shares of face value of Rs. ……./- each, aggregating to Rs. ……………./-, which shall be issued and allotted on a right issue basis to the existing shareholders of the Company.
RESOLVED FURTHER that the following persons be allotted the respective number of equity shares:
| SI. No. | Names of Allottee(s) | No. of Equity Shares | Face Value (In Rs.) | Premium (In Rs.) |
|---|---|---|---|---|
| 1. | [Name] | [Number] | [Face Value] | [Premium] |
| 2. | [Name] | [Number] | [Face Value] | [Premium] |
| … | … | … | … | … |
RESOLVED FURTHER that for the purpose of giving effect to the above resolution, all the directors of the Company be and are hereby severally authorized to do all such acts, deeds, matters, and things and to file necessary returns and forms with the Registrar of Companies, Patna, and such other authorities as may be necessary, including the Reserve Bank of India.
RESOLVED FURTHER that share certificates for the allotment of shares shall be issued under the signature of the aforesaid directors of the Company, and the Common Seal of the Company be affixed in the presence of the aforesaid directors of the Company.”
| [Signature]
[Director’s Name] [Designation]
|
[Signature]
[Director’s Name] [Designation]
|
[Signature]
[Director’s Name] [Designation]
|
Please ensure to replace the placeholders such as [Company Name], [Date], [Name], [Number], [Face Value], [Premium], and others with the relevant information for your specific situation. Additionally, make sure that the resolution complies with the Companies Act, 2013, and other applicable laws. If needed, it’s advisable to seek legal advice for drafting such resolutions.
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