Board Resolution format for Approval for Right Issue of Shares

CERTIFIED TRUE COPY OF RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF [name of Company] HELD ON [day], [date], 2018 AT [time] [IST] AT [address]

Approval for Right Issue of Shares

“RESOLVED THAT pursuant to the provisions of the Section 62 of the Companies Act, 2013 and other applicable rules, if any, [including any statutory modification or enactments or re-enactments thereof] the consent of Directors of the Company be and hereby accord for issue of _______ [___________] equity shares of the Company having face value INR ____/- [Indian Rupees ___ Only] amounting to INR ________/- [Indian Rupees _____________________________ Only] to the existing shareholders on rights basis in their existing proportion of the equity shares held in the Company, as on the record date as may be fixed and declared by the Board.

RESOLVED FURTHER THAT in case of non-subscription from the existing shareholders of the Company, the Board of Directors of the Company shall have the power to dispose off such share in the manner as they deem fit and beneficial in the interest of the Company.

RESOLVED FURTHER THAT any director of the Company be and is hereby authorized to do all such acts, things and deeds as may be deemed necessary for giving effect to the above stated resolution.”

//Certified True Copy//

For ________________

____________

Director

DIN: ________

Address: ____________

Date:

Place: