Special resolution format for loans, guarantees and investments beyond the Section 186(2) limits under Section 186(3) and Rule 13, with a stated cap.
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:
“RESOLVED THAT pursuant to the provisions of Section 186 and other applicable provisions, if any, of the Companies Act, 2013 read with Rule 13 of the Companies (Meetings of Board and its Powers) Rules, 2014, consent of the members of the Company be and is hereby accorded to the Board of Directors of the Company (the “Board”) to give loans to any person or other body corporate, give guarantees or provide security in connection with loans to any other body corporate or person, and acquire by way of subscription, purchase or otherwise the securities of any other body corporate, notwithstanding that the aggregate of such loans, guarantees, security and investments, together with those already made or given, may exceed sixty per cent of the paid-up share capital, free reserves and securities premium account of the Company or one hundred per cent of its free reserves and securities premium account, whichever is more, provided that the aggregate amount thereof outstanding at any time shall not exceed ₹[●] (Rupees [●] only).
RESOLVED FURTHER THAT each such transaction shall be approved by a resolution of the Board passed at a meeting with the consent of all the Directors present, and the Board be and is hereby authorised to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”