Board resloution to invest money in another company

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Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2010 i need a board resolution format authorising the board of directors of a private company to invest in another private company

Ankur Garg

Ankur Garg (Expert)
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18 June 2010 RESOLVED THAT pursuant to the provisions of section 372A of the Companies Act, 1956 and other applicable provisions, if any, of the Companies Act, 1956, (including any statutory modification or re-enactment thereof for the time being in force) the consent of the Board of Directors of the Company be and is hereby accorded to make investments and to provide loans, give securities, guarantees by way of pledging/mortgaging/hypothecating its properties movable/immovable and/or investments in securities up to sixty percent of the aggregate of the paid up share capital and free reserve and/or upto 100 percent of the aggregate of free reserves of the Company as per the limits prescribed under Section 372A of the Companies Act, 1956 in connection with the loans made by any other person to or to any other person by any Body Corporate.

RESOLVED FURTHER THAT the board of directors of the company be and is hereby authorised to negotiate the terms condition, quantum of loan, repayment, interest and other related matters for providing any loan, guarantee and securities and to do all such deeds and things as may be deemed expedient and necessary to give effect to this resolution.

RESOLVED FURTHER THAT Mr. Anurag Verma, Director of the Company be and is hereby authorized to execute, sign and issue for and on behalf of the company, the Loan Agreement, any other agreements, deeds, documents and writings as may be required in relation to the above facility and to do all such acts, deeds and things necessary for giving effect to this resolution.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2010 Thank You so much for reply sir.

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