Sunday, May 10, 2015

Resolution for Allotment of Compulsorily convertible Prefernece shares

Allotment of 0.01% Compulsorily Convertible Preference Shares (CCPS)

RESOLVED THAT _________________ Compulsorily Convertible Preference Shares (CCPS), each having a nominal value of` 10/- (Rupees Ten only), be and are hereby allotted and issued at a price of ` 10/- (Rupees Ten only) per share to _______________________________________ as per the details given below:

Name of Subscriber
No. of Shares
Distinctive  Nos.
Nominal Value


RESOLVED FURTHER THAT CCPS so allotted shall carry fixed dividend @0.01% payable on 31st March subsequent to the closing date thereafter, on 31st March, till conversion of CCPS into common equity shares subject to the prior written approval of the existing lenders of the Company.

RESOLVED FURTHER THAT such CCPS shall be issued/ admitted in Dematerialized form with Central Depository Services Limited (CDSL) and Shri __________, Director, Shri __________, Director and ________________, Company Secretary be and are hereby severally authorized to undertake necessary action with CDSL in this regard.

RESOLVED FURTHER THAT each CCPS would convert into one equity share of the Company, at the conversion price, which shall be at the fair market value (“Conversion Price”). Conversion of CCPS into equity shares would occur anytime within ____ (_____) years after the Closing Date (“Conversion End Date”) at the option of the subscriber.

RESOLVED FURTHER THAT CCPS or the converted Shares shall be free from all encumbrances or liens, except the pledge, if created in favour of existing Lenders of the Company.

RESOLVED FURTHER THAT any of the Director of the Company or __________, Company Secretary, be and are hereby authorized to do all such acts, deeds and things as may be required to be done to give effect to the aboveresolution and do all other acts consequent to the issuance and allotment and give such directions as may be required, necessary, expedient or desirable for giving effect to the aforesaid resolutions.”

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