Resolution- Approving advertisement for public deposit

Posted on 23-03-2016        By ADMIN

Resolution- Approving advertisement for publicdeposit

“RESOLVEDthat the company do invite and accept deposits from public within the limitsprescribed under Rule 3 of Companies(Acceptance of Deposit) Rules 1975, on thebasis of its audited accounts for the year under:
a. Upto Rs. ......... from shareholders being 10% of its paid-up capital andfree reserves, and
b. Upto Rs. ......... from public being 25% of the said capital and freereserves. At rates of interest indicated against each scheme in corporated onthe terms and conditions and that the draft application form with rules andconditions laid on the table of the Board, duly initialed by the Chairman, beand is hereby approved.”

“RESOLVEDFURTHER that the text of advertisement placed at the meeting be and is herebyapproved and the Company Secretary be and is hereby authorized to file theadvertisement duly signed by a majority of the Directors with the Registrar ofCompanies as required under the Rules and publish the same in two newspapers asprescribed.
”“RESOLVED FURTHER that Mr. ............... and Mr. ................ beseverally authorized to sign and issue the Deposit receipts by the due date.”

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