18 December 2009
with reference to my earlier mail....please provide me the board resolutions details for rights issue..... i want to knw the format or specimen of board resolution of rights issue of listed companies....
18 December 2009
Following is draft BoD resolution for Right issue:-
" Resolved that as per Sec 80(1A) and other applicable provisions of the Companies Act, 1956 and any other law/rule/regulation for time being in force and Article xxx of Article of Association of the Company and subject to consent of General Meeting, SEBI and all other concerned authorities and departments, and such other approvals, permission as may be necessary, and subject to such conditions and modifications, as may be prescribed by such approvals or permission, The BoD be and is hereby accorded to create, offer and issue to existing shareholders, such number of equity share of the company of the face value of Rs xx each at premium as may be fixed by the BoD in such proportion as determined by BoD having rating pari passu with existing equity shares.
Resolved further that to give effect to this resolution, the BoD be and hereby authorized to take such steps and to do all such acts, deeds, matters and things and accept any alterations of modifications as required to the issue and allotment of said equity shares."
CAclubindia
