The Draft Board Resolution authorizes the Company to act as the Settlor of a trust established under the Indian Trust Act, 1882, for carrying out activities as an Alternative Investment Fund (AIF) in compliance with the Securities and Exchange Board of India (SEBI) (Alternative Investment Funds) Regulations, 2012. The resolution outlines the Board’s approval to establish the trust, the authorization of a designated director to execute the Trust Deed on behalf of the Company, and the mandate to take necessary actions to formalize and operationalize the trust for the intended AIF activities. This resolution serves as the official documentation of the Board’s decision, ensuring adherence to regulatory and legal requirements.
DRAFT BOARD RESOLUTION TO ACT AS A SETTLOR OF TRUST TO CARRY OUT ACTIVITIES OF AIF
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF ___________ (“COMPANY”) HELD ON ___, ___ DAY OF ____ AT ____ AT THE REGISTERED OFFICE OF THE COMPANY.
The Chairman informed the Board that the Company is of the opinion to establish a ______trust named ______ (hereinafter referred to as the “Trust”), under the provisions of the Indian Trust Act, 1882 for the purpose of carrying out the activities of a _______Alternative Investment Fund (“AIF”) as permitted under the Securities and Exchange Board of India (“SEBI”) (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”).
The Chairman further informed the Board that in order to establish the said Trust the Company is of the opinion to authorize ___________, director of the Company to execute the Trust Deed on behalf of the Company in the capacity of a Settlor (hereinafter referred to as the “Settlor”), the draft copy of which is placed before the board for its identification.
The Board considered the matter in detail and approved the same by passing the following resolution:
“RESOLVED THAT the consent of the board be and is hereby accorded for the establishment of ________ trust for the purpose of carrying out the activities of a ___________ Alternative Investment Fund (“AIF”) as permitted under the Securities and Exchange Board of India (“SEBI”) (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”).
RESOLVED FURTHER THAT _____, director of the Company be and is hereby authorized to finalize and execute the Trust deed in the capacity of a settlor on behalf of the Company and to do all such acts, matters, deeds and things and to take all steps and do all things and give such directions as may be required, necessary, expedient or desirable for giving effect to the said deed.
RESOLVED FURTHER THAT a copy of the resolution duly certified by any of the directors of the Company be submitted to the concerned authorities.”
Certified True Copy
For ________________
_____________
DIRECTOR
DIN: ____________
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