"RESOLVED that a new Company under the name and style of "XYZ PRIVATE LIMITED" as approved by the Registrar of Companies, Rajasthan be set up jointly with RAJSIDIC at Jaipur for the manufacture of Rims & Tyres and Tubes for Multi-utility and heavy vehicles.
RESOLVED further that the draft of the promoters’ Agreement and the Memorandum and the Articles of Association, as tabled before the Meeting are approved and the General Manager of the Company be and is hereby authorized to complete all formalities regarding the registration of the Company and execute the Promoters’ Agreement on behalf of the Company.
REOSLVED further that the following officers of the Company be and are hereby authorized on behalf of the Company to subscribe their names to the memorandum and Articles of Association of the said Company :-
1. Shri., ……….Managing Director
2. Shri., ……….General Manager
3. Shri., ……….Director
4. Shri.,………. Director
RESOLVED further that the Managing director of the Company is further authorized to obtain necessary approval of the Shareholders of the Company under section 372A of the Companies Act, 1956, for investing in the shares of XYZ Limited upto a limit of Rs…….. lacs in terms of the Memorandum and Articles of Association of the proposed Company notwithstanding that the aforementioned investment exceeds 60% (sixty per cent) of the paid-up share capital and free reserves or 100% (hundred per cent) of free reserves, whichever is more of the proposed company."
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