Board resolution format for adopting pre-incorporation contracts under Sections 15(h) and 19(e) of the Specific Relief Act and approving preliminary expenses.
“RESOLVED THAT pursuant to Sections 15(h) and 19(e) of the Specific Relief Act, 1963, Section 179(1) and other applicable provisions, if any, of the Companies Act, 2013 and the Articles of Association of the Company, the Board, being satisfied that the contracts listed in the statement placed before the meeting were entered into by the promoters before the incorporation of the Company for the purposes of the Company and are within its objects, hereby accepts and adopts the said contracts as contracts of the Company, and directs that such acceptance be communicated in writing to the other party to each contract.
RESOLVED FURTHER THAT the preliminary expenses of ₹[●] (Rupees [●] only) incurred by [the promoters / the subscribers] in connection with the incorporation of the Company, as detailed in the statement placed before the meeting, be and are hereby approved, and that the said amount be reimbursed on production of supporting documents.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to communicate the acceptance, execute any novation or confirmation required by the other parties and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.