Board resolution format for making calls on partly paid-up shares under Sections 49 and 179(3)(a), with uniform amount, 14-day notice and interest on default.
“RESOLVED THAT pursuant to Sections 49 and 179(3)(a) and other applicable provisions, if any, of the Companies Act, 2013 and Article [●] of the Articles of Association of the Company, a [first / second / final] call of ₹[●] per share be and is hereby made on all the [●] partly paid-up Equity Shares of ₹[●] each of the Company, on which ₹[●] per share has been paid up, payable on or before [●] (“Due Date”) to the bank account of the Company specified in the call notice.
RESOLVED FURTHER THAT a call notice specifying the amount, the Due Date and the mode of payment be sent to each member at least [fourteen] days before the Due Date, and that interest at [●]% per annum shall be payable on any amount not paid by the Due Date, as provided in Article [●].
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to issue the call notices, receive the call money and record the payments in the Register of Members, file e-Form MGT-14 within thirty days where required under Section 117(3)(g) of the Companies Act, 2013, and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.