Resolution to allot shares to a NON RESEDENT INDIAN Company
This query is : Resolved
24 June 2009
Hey Can any body plz give me a resolution to allot shares to a nOn resident Indian CompAny who is a member of the inDian Company
with the the details of the approvals to be taken from the RBI and other authorities... in the resolution that is to be included
with the the details of the approvals to be taken from the RBI and other authorities... in the resolution that is to be included
24 June 2009
Dear Kartheek
Here it is...
The Board of Directors noted that in terms of clause 8.1 of the Shareholders Agreement dated ............. funding has been received to the tune of Rs.36,000,000 from the shareholders towards equity capital of the company in the existing proportion. Necessary reporting to Reserve Bank of India in respect of FDI received from ....... has been done. Thereafter, the Board approved allotment of equity shares by passing the following resolutions :
“RESOLVED THAT the approval of the Board of Directors be and is hereby accorded for the allotment of 3,60,000 equity shares of Rs.100 each to the existing shareholders of the Company against amounts received from them, as per details below :
RESOLVED FURTHER THAT the excess amount of Rs. 5,40,492 (USD12,643) received from ........... be and is hereby retained by the Company and adjusted towards further allotment of equity shares, if such allotment can be done within 6 months of receipt of the amount from ............., failing which the same be and is hereby refunded to ................ in terms of applicable RBI provisions.
FURTHER RESOLVED THAT the share certificates be and are hereby issued to the allottees under the signatures of ..............................under the Common Seal of the Company affixed in their presence in terms of Article 44 of the Articles of Association of the Company.
RESOLVED FURTHER THAT .......................be and is hereby authorized to file Return of Allotment in e-Form 2 with the Registrar of Companies, Karnataka, Bangalore and make necessary entries in the Register of Members of the Company as well as comply with applicable RBI formalities in respect of the above.”
rgds
Here it is...
The Board of Directors noted that in terms of clause 8.1 of the Shareholders Agreement dated ............. funding has been received to the tune of Rs.36,000,000 from the shareholders towards equity capital of the company in the existing proportion. Necessary reporting to Reserve Bank of India in respect of FDI received from ....... has been done. Thereafter, the Board approved allotment of equity shares by passing the following resolutions :
“RESOLVED THAT the approval of the Board of Directors be and is hereby accorded for the allotment of 3,60,000 equity shares of Rs.100 each to the existing shareholders of the Company against amounts received from them, as per details below :
RESOLVED FURTHER THAT the excess amount of Rs. 5,40,492 (USD12,643) received from ........... be and is hereby retained by the Company and adjusted towards further allotment of equity shares, if such allotment can be done within 6 months of receipt of the amount from ............., failing which the same be and is hereby refunded to ................ in terms of applicable RBI provisions.
FURTHER RESOLVED THAT the share certificates be and are hereby issued to the allottees under the signatures of ..............................under the Common Seal of the Company affixed in their presence in terms of Article 44 of the Articles of Association of the Company.
RESOLVED FURTHER THAT .......................be and is hereby authorized to file Return of Allotment in e-Form 2 with the Registrar of Companies, Karnataka, Bangalore and make necessary entries in the Register of Members of the Company as well as comply with applicable RBI formalities in respect of the above.”
rgds
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Plot of land. Cost of Acquisition
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
