Board resolution format for an eligible public company accepting public deposits under Section 76, with credit rating, DPT-1 advertisement and DPT-3 filing.
“RESOLVED THAT pursuant to Sections 76, 73(2) and 179(3)(d) and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 and the Articles of Association of the Company, and subject to the approval of the members by a Special Resolution, consent of the Board be and is hereby accorded to the Company, being a public company having a [net worth of ₹[●] crore / turnover of ₹[●] crore] as per its audited financial statements for the financial year ended [●], to invite, accept and renew deposits from its members and from the public, within ten per cent and twenty-five per cent respectively of the aggregate of its paid-up share capital, free reserves and securities premium account, for periods of not less than six months and not more than thirty-six months.
RESOLVED FURTHER THAT the Company shall obtain a credit rating for the deposits at least once a year, and the circular in the form of an advertisement in Form DPT-1, signed by a majority of the Directors, be filed with the Registrar of Companies not less than thirty days before its publication in English and vernacular newspapers and on the website of the Company.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to issue the notice of the general meeting, open the deposit repayment reserve account, file e-Forms MGT-14 and DPT-3 and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”