"RESOLVED that Shri MN and OP, directors of the Company, be and hereby are jointly and severally authorized to incorporate a subsidiary of the Company under the provisions of the Companies Act, 1956 with (1) the name and style of XYZ Ltd. or ABC Ltd. whichever is available; (2) an authorized capital of Rs. 25,00,000/- divided into 2,50,000 equity shares of Rs. 10/- each; and (3) having the following objects as its main objects as its main objects viz. (4) The Articles of Association of the subsidiary to be incorporated shall be in pari materia with those of the company.
RESOLVED further that Shri MN and OP be and hereby are authorized to do all acts and deeds necessary for or incidental to the incorporation of the subsidiary as aforementioned."
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