Board resolution for allotment of preference shares under Companies Act, 2013 with private placement, redemption and compliance clauses.
“RESOLVED THAT pursuant to the provisions of Sections 42, 55, 62 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Share Capital and Debentures) Rules, 2014, the Companies (Prospectus and Allotment of Securities) Rules, 2014 and other applicable rules made thereunder, including any statutory modification(s), amendment(s) or re-enactment(s) thereof for the time being in force and subject to the approval of the members and such other approvals as may be required, consent of the Board be and is hereby accorded for allotment of [●] Preference Shares of face value ₹[●] each at a price of ₹[●] per share to [●] on the terms and conditions placed before the meeting.
RESOLVED FURTHER THAT the Preference Shares shall rank and carry such rights, preferences, privileges and obligations as specified in the terms of issue and applicable law.
RESOLVED FURTHER THAT any Director and/or Company Secretary and/or Chief Financial Officer of the Company be and are hereby severally authorised to complete all formalities relating to the allotment and issuance of the aforesaid Preference Shares and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”