Ordinary resolution format for stock split (sub-division) of equity shares under Section 61(1)(d), with Clause V alteration, record date and SH-7 in 30 days.
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to Sections 61(1)(d) and 64 and other applicable provisions, if any, of the Companies Act, 2013 read with Rule 15 of the Companies (Share Capital and Debentures) Rules, 2014, and as authorised by the Articles of Association of the Company, each Equity Share of the Company of the face value of ₹[●] be and is hereby sub-divided into [●] Equity Shares of the face value of ₹[●] each, with effect from [the Record Date to be fixed by the Board / [●]], so that the Authorised Share Capital of ₹[●] (Rupees [●] only) shall be divided into [●] Equity Shares of ₹[●] each and the paid-up Equity Share capital of ₹[●] shall consist of [●] Equity Shares of ₹[●] each.
RESOLVED FURTHER THAT Clause V of the Memorandum of Association of the Company be and is hereby altered by substituting the following in its place: ‘V. The Authorised Share Capital of the Company is ₹[●] (Rupees [●] only) divided into [●] Equity Shares of ₹[●] each.’
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to fix the Record Date, and any Director and/or the Company Secretary of the Company be and is hereby severally authorised to file e-Form SH-7 with the Registrar of Companies within thirty days, issue new share certificates or arrange credit of the sub-divided shares to the demat accounts of the members, and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”