Board resolution for rights issue of equity shares under Section 62(1)(a) of Companies Act, 2013 with allotment and compliance clauses.
“RESOLVED THAT pursuant to the provisions of Section 62(1)(a) and other applicable provisions, if any, of the Companies Act, 2013 read with the rules made thereunder, including any statutory modification(s), amendment(s) or re-enactment(s) thereof for the time being in force and subject to such approvals as may be required, consent of the Board be and is hereby accorded to offer and issue [●] Equity Shares of face value ₹[●] each to the existing equity shareholders of the Company on a rights basis in proportion to their existing shareholding as on the record date to be determined by the Board.
RESOLVED FURTHER THAT the rights issue shall be made on such terms and conditions, including issue price, entitlement ratio, record date, renunciation rights and issue period, as may be determined by the Board in accordance with the provisions of the Companies Act, 2013.
RESOLVED FURTHER THAT any Director and/or Company Secretary and/or Chief Financial Officer of the Company be and are hereby severally authorised to issue the letter of offer, complete the allotment process and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.