Sec. 77A -- Power of company to purchase its own securities - Board Resolutions;

Sec. 77A -- Power of company to purchase its own securities - Board Resolutions;

WHEREAS the company has Rs………… in its securities premium account;

AND WHEREAS the company is authorized by Article………….. to buy back its own shares;

AND WHEREAS there is …………. number of shares of the company in odd lots being similar to the market lots specified by the Stock Exchange;

NOW, THEREFORE, it is resolved that subject to the passing of a special resolution in the general meeting of the company pursuant to section 77A of the Companies Act, 1956………….number of equity shares of the company which are in odd lots be bought back from the open market at a price of Rs………per share;

RESOLVED further that a draft of the declaration of solvency prepared in the prescribed form and tabled before this meeting be and is hereby approved for filing with the ROC and the SEBI after having its verified by an affidavit and be signed by M/s MNO and PQR, the managing director and director of the company;

RESOLVED further that an Extra ordinary General Meeting of the company be called and held for the aforementioned purpose on …………..at…………..as per the draft notice and the explanatory statement tabled before the meeting and initialed by the chairman for purpose of identification;

RESOLVED further that the Secretary of the company be directed to issue the notice to all the members of the company and take every step needed in connection therewith or ancillary or incidental thereto.

Sec. 77 - Purchase by company of its own shares by way of loan to employees - Board Resolution;

Sec. 77 - Purchase by company of its own shares by way of loan to employees - Board Resolution;

RESOLVED that a sum of Rs. ………… (Rupees …………) only be given as loan to the bona fide employees, including managing director and whole-time director, of the company to facilitate them to purchase/subscribe to the fully paid up equity shares of the company and to be held by each of them by way of beneficial ownership, in accordance with the `Employees’ CAPITAL PARTICIPATION SCHEME’ approved by the Board vide Resolution dated …………

RESOLVED further that the loan granted to each of the employees shall not exceed the amount of his/her salary or wages for a period of six months.

Sec. 77 - Purchase by Co. of its own shares to the trustees of the Employees Benefit and Welfare Trust on firm allotment - Board Resolution;

Sec. 77 - Purchase by Co. of its own shares to the trustees of the Employees Benefit and Welfare Trust on firm allotment - Board Resolution;

 

RESOLVED that a sum of Rs. …………. (Rupees ………….) only be given to the Trustees of the Employees’ Benefit and Welfare Trust for subscription by them to the fully paid up equity shares of the company reserved for firm allotment pursuant to the General Body Resolution dated ………… and to be held by and for the benefit of the employees of the Company in accordance with the `Employees’ of the Company in accordance with the `Employees’ Welfare Scheme’ approved by the Board vide Resolution dated …………

Sec. 77 - Purchase by Co. of its own shares to the trustees of the Employees Benefit and Welfare Trust by preferential allotment - Board Resolution;Sec. 77 - Purchase by Co. of its own shares to the trustees of the Employees Benefit and Welfare Trust by preferential allotment - Board Resolution;

Sec. 77 - Purchase by Co. of its own shares to the trustees of the Employees Benefit and Welfare Trust by preferential allotment - Board Resolution;

RESOLVED that a sum of Rs. ………… (Rupees…………..) only be given to the Trustees of the Employees’ Benefit and Welfare Trust for the purchase of the fully paid up shares in the company by them and to be held by and for the benefit of the employees of the company in accordance with the `Employees’ Welfare Scheme’ approved by the Board vide Resolution dated …………