APPROVAL FOR CONVERSION
OF LOAN INTO __________ EQUITY SHARES
“RESOLVED THAT pursuant to the
provisions of section 42 and 62(1)(c) and other applicable provisions, if any,
of the Companies Act, 2013 (including any statutory modifications or
re-enactment thereof, for the time being in force), read with the applicable
rules, regulations thereto, and provisions of the Articles of Association of
the Company, and subject to the approval of members of the Company, the consent
of the Board of directors be and is hereby accorded for the conversion of existing
unsecured Loan of Rs. _________/- (Rupees _______________________________ only) of ____________ Private Limited into _________________ Equity Shares of the Company of face value
of Rs. 10/- (Rupees Ten only) per share at par, for an aggregate amount not
exceeding Rs. _________/- (Rupees ________________________________ only), on private placement basis, and on such terms and conditions as
detailed in the Explanatory Statement.
RESOLVED FURTHER THAT the Board of Directors do
and hereby take on record the Valuation Report issued by the said Registered
Valuer.
RESOLVED FURTHER
THAT the draft Private Placement Offer Letter contains
therein detailed terms and conditions alongwith all other ancillary
documents/papers be and is hereby approved and proposed to be taken on record by the members.
RESOLVED FURTHER THAT the subscription money
in respect of said Equity Shares to be offered to Investor has already been
paid by the investor due to conversion of loan into Equity Shares.
RESOLVED FURTHER THAT Directors of the Company
be and are hereby severally authorized to do all such acts, deeds and things
and execute all such deeds, documents and writings, as it may in its absolute
discretion deem necessary or incidental, including filling of forms and
applications with various authorities as may be necessary for giving effect to
the above resolution and the matters incidental and consequential thereto.”
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