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Constitution of Share Allotment Committee: Board Resolution

The Board of Directors of a company can delegate its powers to 'offer, issue and allot equity shares' to a committee of the Board consisting of some directors. Such kind of committee is called a Share Allotment Committee.

The Board will have to pass a resolution in one of its meetings for constitution of such a committee.

Following format of board resolution is given for your reference. Modify suitably.

#. To Constitute the Share Allotment Committee

RESOLVED THAT a Share Allotment Committee of the Board of Directors be and is hereby constituted consisting of the following Directors:
1. Ms. ................................, Managing Director
2. Mr. ................................, Nominee Director
3. Mrs. .............................., Director
4. Dr. ................................, Director


RESOLVED FURTHER THAT the quorum of the meeting of the Committee shall be two members.

RESOLVED FURTHER THAT the said Committee be and is hereby authorised to issue and allot equity shares and issue share certificates to the shareholders of the company. 

RESOLVED FURTHER THAT the Committee be and is hereby authorised to take all necessary steps, decisions required in connection with allotment of shares to the shareholders of the Company, to settle any question, difficulty or doubt that may arise in regard to the offer/ issue and allotment of Equity Shares and to do all such other acts, deeds, matters and things and to finalize and execute all such deeds documents and writings as may be necessary, desirable or expedient as the Committee may deem fit.

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