RIGHT ISSUE RESOLUTION OF BOARD MEETING

RIGHT ISSUE RESOLUTION OF BOARD MEETING:

CERTIFIED COPY OF RESOLUTION PASSED IN THE BOARD MEETING OF DIRECTORS OF NAME OF COMPANY LIMITED HELD ON ----------DAY OF---------------MONTH, 2014 AT  PLACE OF MEETING.

"RESOLVED THAT in pursuance of Section 62 of the Companies Act, 2013 read with The Companies (Share Capital and Debenture) Rules, 2014 the approval of the Board be and is hereby accorded to the Company to issue -------------No. of  equity shares of Rs. ------------ each (hereinafter referred to as new shares) of an aggregate nominal value of Rs. ---------------------------------(Rupees in Word), for cash to the shareholders at a premium of Rs. ---------------(if any) per share determined by the Chartered Accountants firm, which was accepted by the Board of Directors as reasonable and in the interest of all concerned, such issue to be made on the following terms and conditions:-

1.   The issue of shares will be made in the proportion of one new share for every one equity share held on DATE OF MEETING.

2.  The said offer to the members shall be made by an offer letter which shall indicate the number of shares held by each member and the number of shares to which each is entitled as rights shares, the value per share and the total amount due in case the offer of shares is accepted in full.

3.  The aforesaid offer shall be valid up-to the MAXIMUM 30 DAYS , and includes a right exercisable by the person to whom the aforesaid offer being made to renounce the new shares offered to him in favour of any other person.

4.   The offer after the expiry of the MAXIMUM 30 DAYS FROM MEETING or on receipt of earlier intimation from the person(s) to whom such notice was given that he declines to accept the new shares offered, the Board of Directors of the company be authorized to dispose of unsubscribed part of the new shares in such manner as they think most beneficial to the company.

5.  The Equity Shares so issued shall upon allotment have the same rights of voting as the existing equity shares and be treated for all other purposes pari-passu with the existing equity shares of the Company and that the equity shares so allotted during the financial year shall be entitled to dividend, if any, proportionately in the year of the allotment of these shares.

6.    The allotment of further shares to Non-Residents members shall be in accordance with the Regulations issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999.

7.    Share Certificates shall be issued to those to whom the further new shares are allotted within the time prescribed in the Companies Act, 2013.

RESOLVED FURTHER that the Board of Directors be and is hereby authorize to take all steps to implement the above resolutions, finalize and issue the letter of offer of rights and take all actions in connections with the further issue and allotment of shares to the members and others where applicable”.

Certified true copy

For NAME OF COMPANY Limited

                                                     

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NAME OF DIRECTOR                                                                       

Director

DIN:

ADDRESS OF DIRECTOR