Board Resolution

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Bri Rani Hospitalities Private (Querist)

12 January 2021 Board Resolution (in case of Companies) stating that the Company’s operations are under stress on account of Covid-19
please let me know how to write this board resolution . SINCE VARIOUS BANKING ARE ASKING TO MY CLIENTS TO SUBMIT THIS

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

06 July 2024 To draft a Board Resolution stating that the Company’s operations are under stress due to COVID-19, you can follow a structured format that addresses the key points clearly. Here’s a suggested template for such a resolution:

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**Board Resolution**

**Subject: Acknowledgement of Stress in Company Operations due to COVID-19**

**Date: [Insert Date]**

**Present:**
[Name of the Director 1], Chairman
[Name of the Director 2]
[Name of the Director 3]
[Name of the Director 4]
[Name of the Director 5]

The Board of Directors of [Company Name], in a meeting held on [Date], considering the ongoing COVID-19 pandemic and its impact on global and domestic economic conditions, acknowledges and resolves as follows:

**Whereas:**

1. The COVID-19 pandemic has resulted in unprecedented challenges and disruptions to global and domestic economies.

2. [Company Name] has experienced significant adverse effects on its operations, including but not limited to [briefly describe specific impacts such as supply chain disruptions, reduced demand, financial constraints, etc.].

3. These circumstances have necessitated adaptations and adjustments in business operations to mitigate the impact and ensure continuity.

**Resolved:**

1. The Board acknowledges that the operations of [Company Name] are currently under stress due to the COVID-19 pandemic.

2. The Board authorizes [Name and Title of Authorized Person], [e.g., CEO/Managing Director], to represent the Company and provide necessary documentation to financial institutions, regulatory bodies, or other stakeholders as may be required, affirming the acknowledgment of stress in operations caused by COVID-19.

3. The Board further authorizes [Name and Title of Authorized Person] to take necessary actions and make representations on behalf of the Company to mitigate the adverse effects of COVID-19 on its operations.

4. The resolutions passed herein shall be communicated to [specific stakeholders or authorities as necessary].

**Further Resolved:**

The Board directs the Company Secretary to ensure compliance with all statutory and regulatory requirements related to the dissemination and filing of this resolution.

**Certified True Copy:**

This resolution is certified true and correct as passed at the Board Meeting held on [Date].

For [Company Name]:

[Signature of Chairman/Authorized Director]
[Name of Chairman/Authorized Director]
[Designation]

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**Notes:**
- Customize the resolution as per the specific circumstances and impacts faced by your company.
- Ensure all factual statements are accurate and supported by documented evidence.
- Include any additional clauses or directives relevant to your company’s situation and compliance requirements.

This template provides a framework to articulate the acknowledgment of operational stress due to COVID-19 and authorize necessary actions accordingly.

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