Special resolution format for an eligible public company accepting public deposits under Section 76 and Rule 2(1)(e), within the 10% and 25% limits.
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:
“RESOLVED THAT pursuant to Section 76 and other applicable provisions, if any, of the Companies Act, 2013 read with Rules 2(1)(e) and 3 of the Companies (Acceptance of Deposits) Rules, 2014 and the Articles of Association of the Company, consent of the members be and is hereby accorded to the Company, being a public company having a net worth of not less than ₹100 crore or a turnover of not less than ₹500 crore, to invite, accept and renew deposits from its members and from the public, provided that deposits from members shall not exceed ten per cent, and other deposits shall not exceed twenty-five per cent, of the aggregate of the paid-up share capital, free reserves and securities premium account of the Company, subject to an overall limit of ₹[●] (Rupees [●] only) outstanding at any time.
RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised to settle the terms of the deposits, obtain the required credit rating, file this resolution with the Registrar of Companies before any invitation to the public, issue the circular in the form of an advertisement and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”