Ordinary resolution format for a director's relative holding office or place of profit above ₹2.5 lakh a month under Section 188(1)(f) and Rule 15(3)(b).
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to the provisions of Section 188(1)(f) and other applicable provisions, if any, of the Companies Act, 2013 read with Rule 15(3)(b) of the Companies (Meetings of Board and its Powers) Rules, 2014, and on the approval of the Board [and the Audit Committee], the consent of the members be and is hereby accorded to the appointment of Mr./Ms. [●], [relationship] of Mr./Ms. [●], Director of the Company (DIN: [●]), to the office or place of profit of [Designation] in [the Company / [●], a subsidiary / associate company of the Company] with effect from [●], at a monthly remuneration of ₹[●] (Rupees [●] only), with authority to the Board to grant increments from time to time up to a monthly remuneration of ₹[●] (Rupees [●] only).
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to settle the other terms of the appointment in accordance with the policies of the Company and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”