Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

Prefrential Allotment u/s 81A

Rohit Sharma (Secretarial Officer) (24 Points)

21 April 2010

Can Anyone send me

1)Board resolution and

2)special resolution

for preferential allotment in case of unlisted public Limited Company under section 81A read with relvant rule.

Reply
Follow
Share

4 Replies

Kaushik Vankadkar (Service) (350 Points)
Replied 21 April 2010

"RESOLVED THAT in accordance with the provisions of Section 81 and applicable provisions if any of the Companies Act, 1956 and in accordance with the provisions of the Articles of Association of the Company and subject to all necessary approvals, permissions, and / or sanctions of appropriate authorities, if any, and subject to such conditions and modifications, as may be prescribed by any of them in granting such approvals, permissions and /or sanctions which the Board of Director of the Company may accept, the Board of Directors of the Company are hereby authorised for issuing on preferential basis to one or more Bank(s)/Financial Institution(s) / Mutual Fund(s) /Body (ies) Corporate or any other person(s), and/or on rights basis and/or to public, as may be decided by the Board of Directors, Equity Shares of the Company aggregating to Rs............................. (Rupees...............................) comprising such number of Equity of such value as may be decided by the Board of Directors and on such terms and conditions including retention of over subscripttion as may be permissible, as may be mutually agreed upon by the Board of Directors of the Company and such Bank(s)/Financial Institution(s)/Mutual Fund(s), Body (ies) Corporate or other person(s).

FURTHER RESOLVED THAT for the purpose of giving effect to the resolution, the Board of Directors of the Company is be and is hereby authorised to do all such acts deeds, matters and things as it may, in its absolute discretion, deem necessary or desirable and to settle any questions, difficulty or doubt that may arise in regard to the offering, issue allotment and utillisation of the isssue proceeds, as it may, in its absolute discretion, deem fit and proper".

Vipul Garg (Company Secretary) (60 Points)
Replied 09 September 2010

hello all dear friends

please tell me the meaning of relevant date which is given in disclosures requirement in Unlisted public companies (preferential allotment) rules 2003 and also tell me "is it necessary to make valuation of the shares of the company....

thanks in advance...