Board resolution for arms', length transaction u/s. 188
This query is : Resolved
Revati Sathe
(Querist)
13 January 2015
pl. provide me specimen Board resolution for arms' length transaction u/s. 188 of the Companies act, 2013
CS Mitesh Mehta
(Expert)
14 January 2015
DRAFT RESOLUTION
RESOLVED THAT pursuant to the provisions of section 188 of the Companies Act, 2013 (as amended or re-enacted from time to time) read with rule no 15 of the Companies (Meeting of Board and its Powers) Rules 2014, the consent of the board be and is hereby accorded for entering into a contract with ……. [Name of related party],at arm's length basis the copy of which is laid before the meeting and initialled by the chairman for the purpose of identification, be and is hereby approved. The brief details of contract is given below
Description Period Amount (in Rs)
RESOLVED FURTHER pursuant to the provisions of section 189 of the Companies Act, 2013 (as amended or re-enacted from time to time) read with rule no 16 of the Companies (Meeting of Board and its Powers) Rules 2014, Mr./Ms. ……………….. [Name of person], director/company secretary of the Company be and is hereby authorized to do the necessary entries in the Register of contracts or arrangements in which directors are interested and authenticate them
RESOLVED THAT pursuant to the provisions of section 188 of the Companies Act, 2013 (as amended or re-enacted from time to time) read with rule no 15 of the Companies (Meeting of Board and its Powers) Rules 2014, the consent of the board be and is hereby accorded for entering into a contract with ……. [Name of related party],at arm's length basis the copy of which is laid before the meeting and initialled by the chairman for the purpose of identification, be and is hereby approved. The brief details of contract is given below
Description Period Amount (in Rs)
RESOLVED FURTHER pursuant to the provisions of section 189 of the Companies Act, 2013 (as amended or re-enacted from time to time) read with rule no 16 of the Companies (Meeting of Board and its Powers) Rules 2014, Mr./Ms. ……………….. [Name of person], director/company secretary of the Company be and is hereby authorized to do the necessary entries in the Register of contracts or arrangements in which directors are interested and authenticate them
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