Chitika

Saturday 26 March 2011

Sec. 81(3) (b) - Approving of convertible loans - Board Resolution

Sec. 81(3) (b) - Approving of convertible loans - Board Resolution


"RESOLVED that subject to the approval of the Central Government, approval of the Company is given for raising a loan of Rs…………
by the company from M/s. X ltd. giving the M/s. X Ltd. an option to convert the loans into………… equity shares of the company at a premium of Rs………. within 12 years from the receipt of the loan by the Company and on other terms and conditions contained in the draft agreement tabled before the meeting and initialed by the Chairman for the purposes of identification."

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