board resolution for forfeiture of shares

In the event of forfeiture of shares, the shareholders loses the rights and interests of being a shareholder and ceases to be a member of the … 48 - Deed of appointment of a new trustee of the provident fund, Sec. 292(1)(d) - Investment of funds of the company in Mutual Fund - Board Resolution, Sec. Sec. 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The following procedure must be followed for forfeiture of shares: 1. 300 - Interested Director not to participate or vote in the Board’s proceedings - Board Resolution, Sec. 65 - Reimbursement of expenses to Directors - Board Resolution, Sec. (d) To make necessary changes in the Register of Members and to cancel the share certificates concerned. 309 - Remuneration of Directors - Board Resolution, Sec. 91/Regn. 75 - Allotment of shares for services rendered - Board Resolution, Sec. 163(2) - Inspection of Register of Members and Debenture Holders - Board Resolution, Sec. 84 - Sealing of share certificates - Board Resolution, Sec. The amount received by the company is not refunded. 31 - Forfeiture of share for debts due - Board Resolution; Sec. 48/Reg. 395(1) - Purchase of shares from the shareholders of transferor company by the transferee company - Board Resolution, Sec. Draft Board Resolution for Forfeiture of Shares. 70 - Operation of banking account - Board Resolution, Sec. 255 - Alterations of articles for appointment of directors - Board Resolution, Sec. 31 - Alteration of Articles of Association - Board Resolution, Sec. 91 Regn. 32 Schedule I] v Excess money realised on sale of forfeited shares not to be paid to former owner. [•] towards purchase of [•] equity/preference shares of [•] Limited [•][Name of the Transferor Company], a [•] [Public/Private] Limited Company having CIN [•]; RESOLVED FURTHER THAT the draft of Share Purchase Agreement (“SPA”) between the Company and [•][Name(s) of the Transferor/ Transferor Company/Companies] as placed before the Board and initialed by the Chairman for the purpose of identification, be and is hereby approved; RESOLVED FURTHER THAT Mr./ Ms. [•] [Name and Designation of the authorized person] of the Company, be and is hereby authorized on behalf of the Company to execute the SPA including signing any letter(s) of undertakings, declarations, agreements and other papers which the Company may be required to sign in terms of the SPA and do all such acts, deeds and things as may be required to give effect to the same.”, Corporate Law Reporter is the fastest Indian Law Journal delivered everyday - Free :) Registration takes 30 seconds and entitles you to receive Daily Legal Updates on Corporate Laws in your inbox. 111A(3) - Application for rectification of register of members - Board Resolution. 4.2 On annulment, the name of the member should be restored in the register of 233B - Application to Central Government for Appointment of Cost Auditor - Board Resolution, Sec. 148 - Publication of subscribed and paid-up capital alongwith authorised capital - Board Resolution, Sec. As per Board’s resolution, the 213 - Change in financial year to coincide with the financial year of the subsidiary - Board Resolution, Sec. 34(2) - Adoption of common seal on shifting of registered office - Board Resolution, Sec. (address of the company). 75 - Return of allotment - Board Resolution, Sec. 67. 5(f) - Charging of any person with the responsibility of complying any provisions of the Act - Board Resolution, Sec. 372A - Investments in shares of one company - Board Resolution, Sec. 386 - Appointment of a person as Manager who is also a Manager of another company - Board Resolution, Sec. 31. 215 - Approval of modified annual accounts by Board - Board Resolution, Sec. 12 - Formation agreement for incorporating a company - Board Resolution, Sec. 291 - External commercial borrowing of US $ 75 million - Board Resolution, Sec s. 291/81/Regna. 12 - Enforcement of lien by sale of shares - Board Resolution, Sec. 268 - Appointment of director nominated by a body corporate / Financial Institutions - Board Resolution, Sec. 111 (4) - Application to Company Law Board for default made by the company in entering the name in Its Register of Members - Board Resolution, Sec. 292(1)(c) - Borrowing of moneys otherwise than on debentures by way of unsecured loan - Board Resolution, Sec. 262 - Appointment of director to Fill up casual vacancies - Board Resolution, Sec s. 268/310/311 - Variation of the terms of agreement with Managing Director - Board Resolution, Sec. - Listing of shares with stock exchanges - Board Resolution, Sec. 72 - Authorisation for fixing time and date of opening and closing of subscription list - Board Resolution, Sec. 81 - Issue of bonus shares - Board Resolution, Sec. 291 - Insurance of company’s property - Board Resolution, Sec. 80 - Redemption of preference shares from the proceed of rights issue - Board Resolution, Sec. 81 - Issue of redeemable preference shares - Board Resolution, Sec. 77A -- Power of company to purchase its own securities - Board Resolutions, Sec. 91 - Revocation of a call - Board Resolution, Sec. 48 - Authority to secretary to surrender of premises executed without common seal - Board Resolution, Sec. Draft Board Resolution for Forfeiture of Shares. 257 - Advertisement given of persons other than retiring directors to stand for directorship - Board Resolution, Sec. 65. 108/Regn. 2 (24) - Appointment of a Manager - Board Resolution, Sec. “RESOLVED THAT pursuant to provisions of Section 179(3)(e) and any other applicable provisions of Companies Act, 2013 read with Rules thereunder (including any statutory modifications or re-enactment thereof, for the time being in force) and subject to the limits envisaged under Section 186 read with Rule 11& 13 of the Companies (Meetings of Board and its Powers) Rules, 2014 and provisions of Articles of Association of the Companies, consent of the Board of Directors of the Company be and is hereby accorded to invest a sum of Rs. 31 Schedule I] v Board's power to dispose of forfeited shares [Reg. Sec. 395 - Resolution for Issue of Rights Shares to Prevent takeover - Board Resolution, Sec. Regulation 31 states that if the requirements of any such notice as aforesaid are not complied with, any share in respect of which the notice has been given may, at any time thereafter, before the payment required by the notice has been made, be forfeited by a resolution of the Board to that effect. 66 - Newspaper advertisement of prospectus - Board Resolution, Sec. Draft Board Resolution For Lease Agreement. 174 - Adjournment of General Meeting for want of quorum - Board Resolution, Sec. 72 - Allotment of shares - Board Resolution, Sec. 291/Reg. 619 - Appointment of Statutory Auditor by Government company -, Sec. 10. 44 - Filing of prospectus by converted private company - Board Resolution, Sec. 49(5) (c) - Investment of company held in the name of depository - Board Resolution, Sec. 53 - Convening adjourned Annual General Meeting - Board Resolution, Sec. 209A - Inspection of books of accounts of companies - Board Resolution, Sec. 291 - Approval of budget - Board Resolution, Sec. 4(2) - Formation of a subsidiary - Board Resolution, Sec. 52 - Chairman of a General Meeting - Board Resolution, Sec. 82/84 - Approval of Share Certificate Format - Board Resolution, Sec s. 82/84 - Issue and printing of share certificates - Board Resolution, Sec. 108/Regn. 48 - Execution of Excise Bond - Board Resolution, Sec. 291 - Dismissal of employee - board Resolution, Sec. 94 (1) (d) - Sub-division of shares into shares of smaller amount than is fixed by the Memorandum of Association - Board Resolution, Sec. 217(2A) - Approval of particulars of employees - Board Resolution, Sec. 87 - Transfer of amount from general reserve to profit and loss account - Board Resolution, Sec. 302 - Memorandum of interest - Board Resolution, Sec. 291/Regn. 289/Regna.81 - Confirmation of resolution passed by circulation - Board Resolution, Sec. After the forfeiture of shares, the company is under an obligation to dispose off the forfeited shares. 408 - Appointment of Govt. A major source of stable financing of a companies activities is the raising of capital from owners through the issue of equity 291 - Revision of scales of pay pursuant to agreement with employees - Board Resolution, Sec. Re-issue of forfeited shares is a mere sale of shares for the company. 76(1).-Election of Chairman-Board Resolution, Sec.175-Election of Chairman-Board Resolution. 205A(5) - Transfer of unpaid dividend to the Investor Education and Protection Fund - Board Resolution, Sec. 16 - Interest on unpaid calls - Board Resolution, Sec.91/Regn. 291 - Resignation from the services by the whole-time Director/General Manager/Secretary - Board Resolution, Sec s. 291/257 - Company serving notice under section 257(1) to nominate a director in another Company of which it is a member - Board Resolution, Sec. 291 - Authority to the solicitors/lawyers to initiate action on behalf of the company - Board Resolution, Sec. 228 - Appointment of Branch Auditor - Board Resolution, Sec. 292(1)(a) - Interest on call money arrears - Board Resolution, Sec s. 292(1)(b)/293(1)(d) - Power to issue debentures - Board Resolution, Sec. 163(1A) - Destruction of records - Board Resolution, Sec. 123 - Issue of debentures secured by floating charge - Board Resolution, Sec. No spam. 67(3) - Offering shares or debentures to members of a private company - Board Resolution, Sec. Resolution by Board of Directors – If the shareholders fail to pay the monies due even after being served by a valid notice, then the board of directors can forfeit the shares by passing a resolution. RESOLVED FURTHER THAT Mr./ Ms. [•] [Name and Designation of the authorized person] of the Company, be and is hereby authorized on behalf of the Company to execute the SPA including signing any letter (s) of undertakings, declarations, agreements and other papers which the Company may be required to sign in terms of the SPA and do all such acts, deeds and … 153B - Declaration of shares held in trust - Board Resolution, Sec. 225 - Appointment of auditor other than a retiring auditor - Board Resolution, Sec. 146 - Registered Office of the company - Board Resolution, Sec. - Board Resolution, Sec. The 32 - Cancellation of forfeiture - Board Resolution, Sec. 81 - Issue of rights share at par - Board Resolution, Sec. 58A - Renewal or Acceptance of Deposits without invitation - Board Resolution, Sec. 29 - Notice of forfeiture for fully paid-up shares - Board Resolution, Sec. and Secondary Offering of Shares November 15, 2007 – The board of directors of Link and Motivation Inc. (“the Company”) today announced a resolution on the issue of new shares by public offering and a secondary offering of shares in connection with the listing of the Company’s common stock on the Tokyo Stock Exchange. Forfeiture being in the nature of a penal proceeding, the provisions of the articles must be strictly followed. 289 - Confirmation of resolution passed by Directors by circulation - Board Resolution, Miscellaneous - Confirmation of previous minutes - Board Resolution, Miscellaneous - Revaluation of assets - Board Resolution, Miscellaneous - Writing off of bad debts - Board Resolution, Miscellaneous. 299 - Entering into contracts in which a Director is interested other than contracts covered by section 297 - Board Resolution, Sec. 166/Reg. certified true copy of the resolution passed at the meeting of board of directors of (the company) held on ————the ——–day of ——, ——- at ———— at on. 303 - Change in the Register of Directors - Board Resolution, Sec. A company does not make allotment of these shares. 292(1) proviso - Executive Committee - Board Resolution, Sec. 33/372A --Registration of company - Board Resolution, Sec. The secretary shall prepare a list of defaulters i.e., the list of members who have not paid the call money up to the last date, and place it before the Board of Directors for necessary action. It is a quite natural process. 112/Rule 4 - Companies (Issue of Share Certificate) Rules, 1960 - Issue of share certificates without production of letters of allotment - Board Resolution, Sec s. 113/84 - Sub-division of share certificates - Board Resolution, Sec s. 114/115 - Issue of share warrants to bearer - Board Resolution, Sec s. 117-120 - Debenture issue - Board Resolution, Sec s. 117-120 - Trust deed approval - Board Resolution, Sec s. 117-120 - Execution of trustee agreement and deed of hypothecation - Board Resolution, Sec s. 117-120 - Appointment of trustees of debentureholders - Board Resolution, Sec. 72 - Refusal to allot shares - Board Resolution, Sec. 34(2) - Adoption of the common seal of the company - Board Resolution, Sec. 108/Regn. 54 - Authentication of documents and proceedings - Board Resolution, Secs. A small or insignificant irregularity will make the forfeiture void. (c) To have a resolution passed at a Board meeting on forfeiture. Sec. 34(1) - Certificate of Incorporation - Noting by Board only - First Board Meeting - Board Resolution, Sec. 395(1) Proviso - take offer by the offeror company - Board Resolution, Sec. On forfeiture, we need to cancel the shares and to that extent, reduce the Share Capital. 73 - Opening of Bank Account For refund of Application money and/or Excess amount - Board Resolution, Sec. 15 - Sick Industrial Companies (Special Provisions) Act, 1985 - Reference to BIFR - Board Resolution, Sec. 111 - Refusal to register transmission - Board Resolution, Sec. 18&19 - Extension of time for registration of alteration of Memorandum of Association - Board Resolution, Sec. 85 - Non-declaration of dividend - Board Resolution, Sec. 383-A - Appointment of Secretary - Board Resolution, Miscellaneous - Appointment of technical staff and employees - Board Resolution, Miscellaneous - Purchase of land - Board Resolution, Miscellaneous - Authorisation to Secretary to furnish certified copies of Board’s resolutions - Board Resolutions. 77 - Purchase by company of its own shares by way of loan to employees - Board Resolution, Sec. 316 - Appointment of Managing Director or a person who is already Managing Director of another company - Board Resolution, Sec. 135 - Filing of modification of charge - Board Resolution, Sec. 224 - Appointment and remuneration of Auditors - Board Resolution, Sec. 291 - Retainership to a lawyer as a lump sum fee - Board Resolution, Sec. 187 - Representation of the company as member of more than one company - Board Resolution, Sec. 48 - Execution of deeds under the common seal - Board Resolution, Sec. 32-33 - Sale of forfeited shares - Board Resolution; 204(1) - Appointment of body corporate to an office or place of profit - Board Resolution, Sec. 211(4) - Adoption of Form of Annual accounts - Board Resolution, Sec.212(8) - Exemption from incorporation of subsidiary’s account in the annual accounts - Board Resolution, Sec. 204(1) - Appointment of Technical Adviser - Board Resolution, Sec. Sec. Sec. 205 - Dividend Recommended - Board Resolution, Sec. 301 - Register of Contract - Board Resolution, Sec. 319 - Payment to Director for loss of office for transfer of undertaking or property - Board Resolution, Sec. The accounting entries depends on whether the shares were issued at Premium or Par. 186 - Application to Company Law Board for ordering for Extraordinary General Meeting to be called - Board Resolution, Sec. 69 - Return of money paid on application where minimum subscription not received - Board Resolution, Sec s. 70-75 - Allotment of Shares - Board Resolution, Sec. 18 - Application for extension of time to register Company Law Board’s Order - Board Resolution, Sec. 193(1A) - Signing of minutes of Extraordinary General Meeting by a Director - Board Resolution, Sec. 31 - Forfeiture of shares for non-payment of call - Board Resolution, Sec. 285/Regna. 81 - Issue of right shares at par - Board Resolution, Sec. 18 - Payment of call in advance - Board Resolution, Sec. 20 - Change of undesirable name - Board Resolution, Sec. 121 - Redemption and issue of new debentures - Board Resolution, Sec. 292(1)(c) - Power to borrow otherwise than on debentures within the limit approved by members -Board Resolution, Sec. 108/Regns. 254. 94A - Increase of share capital by statutory order - Board Resolution, Sec. 303(2) - Particulars of Directors and general notice of interest - Board Resolution, Sec. 108 - Transfer of shares - Constitution of Share Transfer Committee of Board - Board Resolution, Sec. 96 - Table A - Allotment of fractional shares in a bonus issue - Board Resolution, Sec s. 291/81/Regna. 60 - Approval of prospectus - Board Resolution, Sec. 291 - Gratuity payable to staff - Board Resolution, Sec. 58A/58B - Invitation for acceptance of deposits from public - Board Resolution, Sec. 43 - Contravention of conditions by private company - Board resolution, Sec. 205 - Payment of interim dividend - Board Resolution, Sec. 94A - Increase of share capital on converting loans into share capital - Board Resolution. 19 (2) - Application to the Company Law Board for extension of time for filing order of the Company Law Board with Registrar of Companies - Board Resolution, Sec. Sec. 49 - Investment of company not held in its own name and held as qualification shares, Sec. Forfeited Shares Journal Entries. Sec. 313(2) - Vacation of office of alternate Director - Board Resolution, Sec. 91 - First Call on shares - Board Resolution, Sec. 165 - Statutory report and statutory meeting - Board Resolution, Sec. 81(3) (b) - Approving of convertible loans - Board Resolution, Sec. 372A - Investment in shares, of companies - Board Resolution, Sec. 17 - Alteration to the Memorandum of Association as to change of the Registered Office from one State to another - Board Resolution, Sec. 48 - Authority to affix facsimile signature - Board Resolution, Sec. 396A - Preservation of books and papers of amalgamated company - Board Resolution, Sec s. 397-98 - Application to Company Law Board for relief in cases of oppression and mismanagement - Board Resolution, Sec. 108/Regn. Forfeiture of Shares. 205 - Opening of Dividend account in a Bank - Board Resolution, Sec. 313 - Appointment of Alternate Director - Board Resolution, Sec. 72 - Allotment of shares oversubscribed - Board Resolution, Sec. 48 - Authority to affix common seal - Board Resolution, Sec. Forfeiture of shares is referred to as the situation when the allotted shares are cancelled by the issuing company due to non-payment of the subscription amount as requested by the issuing company from the shareholder. 146(2) - Change of situation of registered office - Board Resolution, Sec. 372A - Investment in convertible debentures or non-convertible debentures of a body corporate - Board Resolution, Sec. 1 mail per day. 58A - Issue of advertisement for acceptance of deposits from public including employees - Board Resolution, Sec. 41(1) - Subscribers to Memorandum - Board Resolution, Sec. 291 - Agreement with the employees’ union, Sec. 13 - Calls on shares payable in instalments - Board Resolution, Sec. 404 - Alteration of memorandum or articles pursuant to Court’s order under section 397 or 398 - Board Resolution, Sec. Forfeiture of shares is a serious step since it involves in depriving a person of his property as a penalty of some act or omission. 391 - Amalgamation of subsidiaries with holding company - Board Resolution, Sec. 2 (45A)-Appointment of Secretary in whole-time practice - Board Resolution, Miscellaneous - Revision of scales of pay pursuant to agreement with employees - Board Resolution, Sec. The amount already received on such shares is forfeited. 372A - Availing loan against public/right issue of equity shares/debentures - Board Resolution, Sec. 391 - Amalgamation of one or more companies with the Company - Board Resolution, Sec. I think there are two possible ways to forfeit the shares: one way is through the Companies Act s.641 which would require a Special Resolution and the other way is to use the articles which sets out a process whereby the directors themselves can implement a forfeiture. 193 Regna. 109B - Transmission of shares - Board Resolution. 108/Regns. 146 - situation of Registered office of the company to be notified - Board Resolution, Sec. In this meeting a resolution will be passed by the Board of Directors to forfeit the shares of the defaulting members. 31 - Forfeiture of shares for non-payment of call - Board Resolution; Sec. 96 - Conversion of partly paid into fully paid shares - Board Resolution, Sec. 293A - Contribution to a political party - Board Resolution, Sec. 209(1) Proviso - Keeping of books of accounts at a place other than the registered office - Board Resolution, Sec. v Forfeiture of shares [Reg. The right to forfeit shares must be pursued with the greatest exactness. 292 (1) proviso - Adoption of Share Transfer Committee’s Report - Board Resolution, Sec. 5(g) - Specifying one or more members as Officer in default - Board Resolution, Sec. 169/Regna. The forfeited shares are usually reissued by the company. 141 - Authorisation for filing of petitions before Company Law Board/Bench - Board Resolution, Sec. 78 - Issue of shares at a premium - Board Resolution, Sec. 87 - Transfer of amount to General Reserve Account - Board Resolution, Sec.

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