Required dear experts

Asha (Querist) 19 September 2012 This query is : Resolved
need a specimen special resolution format of sec 372A if anyone have pls. post Thanks.

Follow Query

Report Abuse

ajay sethi (Expert) 19 September 2012
RESOLVED THAT SUBJECT TO THE Provision of Section 372 A of the Companies Act, 1956 as amended from time to time and other applicable provisions of the Companies Act, consent of the shareholders be and are hereby accorded to the Company to make any loans or inter corporate loans, Investments and to give any guarantees or to provide security in connection with a loan --------------- Crores notwithstanding that such investments, outstanding loan given or to be given and guarantees & security provided are in excess of 60 percent of the Paid Up Share Capital and Free Reserves of the Company or 100 percent of the Free Reserves of the Company, which ever is more, as prescribed under Section 372A, as detailed in the attached Explanatory Statement, as they in their absolute discretion deem beneficial and in the interest of the Company.

FURTHER RESOLVED that the Board of Directors (or a Committee formed by them for this purpose), be and are hereby authorized to discuss, negotiate and finalize the terms and conditions of the proposed loans, Inter corporate loans, investment/lending or giving guarantees which they may deem fit in the interests of the Company