Purchase of cccps

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Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 Hi,

Can any one provide me the Board resolution for purchase of CCCPS

Thanks in advance

Ajay Mishra

Ajay Mishra (Expert)
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27 September 2013 What is CCCPS. Please confirm....

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 cumulative compulsory convertible preference shares

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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10 August 2024 Certainly! Here’s a sample Board Resolution for the purchase of Cumulative Compulsory Convertible Preference Shares (CCCPS). This is a general template and should be customized to fit the specific needs of your company and the transaction details.

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### **BOARD RESOLUTION FOR PURCHASE OF CUMULATIVE COMPULSORY CONVERTIBLE PREFERENCE SHARES (CCCPS)**

**[Company Letterhead]**

**Date: [Insert Date]**

**Resolution No.: [Insert Resolution Number]**

**At the meeting of the Board of Directors of [Company Name], held at [Address of Meeting], on [Date] at [Time], the following resolution was passed:**

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**RESOLUTION FOR THE PURCHASE OF CUMULATIVE COMPULSORY CONVERTIBLE PREFERENCE SHARES**

**WHEREAS** the Board of Directors has reviewed and considered the proposal to purchase Cumulative Compulsory Convertible Preference Shares (CCCPS) of [Target Company Name], and has found it to be in the best interests of the Company.

**RESOLVED THAT:**

1. **Approval of Purchase:**
- The Company is hereby authorized to purchase [Number] Cumulative Compulsory Convertible Preference Shares (CCCPS) of [Target Company Name], having a face value of ₹[Face Value] each, at a purchase price of ₹[Purchase Price] per share, totaling ₹[Total Amount].

2. **Authority to Execute Documents:**
- [Name(s) and Designation(s) of Authorized Person(s)], be and are hereby authorized to execute, sign, and deliver all necessary documents, agreements, and forms required to complete the purchase transaction.

3. **Payment:**
- The payment for the purchase of the CCCPS shall be made from the Company’s bank account [Bank Account Details], and the [Authorized Person(s)] are empowered to handle all aspects related to the payment.

4. **Compliance and Reporting:**
- The Company Secretary or any other authorized person is directed to ensure compliance with all relevant legal and regulatory requirements concerning the purchase of CCCPS, including reporting to regulatory authorities as necessary.

5. **Further Actions:**
- The [Name(s) and Designation(s) of Authorized Person(s)] are further authorized to take any additional actions or make any decisions necessary to complete and finalize the purchase of the CCCPS.

**FURTHER RESOLVED THAT:**

- A copy of this resolution be provided to all concerned parties and filed with the Company’s records.

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**Certified True Copy**

For [Company Name],

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

**[Signature of Company Secretary]**
**[Name of Company Secretary]**
**[Designation]**

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### **Instructions for Use:**

1. **Customize Details:** Replace placeholders (e.g., [Company Name], [Target Company Name], [Face Value], [Purchase Price], etc.) with the actual details specific to your transaction.

2. **Board Meeting:** Ensure that this resolution is passed in a properly convened Board meeting and that the minutes of the meeting accurately reflect the resolution.

3. **Compliance:** Verify that all actions taken are in compliance with the Companies Act, 2013, and other applicable laws and regulations.

4. **Documentation:** Keep a copy of the resolution in the company’s records and provide copies to relevant parties involved in the transaction.

For any specific legal requirements or further customization, it’s advisable to consult with a legal professional or corporate advisor.

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