Search Your Query Here

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 of the directors of the company. Such a committee is called a Share Allotment Committee.
board resolution for constitution of share allotment committee

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

Following is a format of board resolution for the constitution of the share allotment committee for your reference. Modify it suitably. Do refer to the relevant provisions of the Companies Act, 2013 and rules made thereunder and any other applicable SEBI regulations before finalising the resolution.


#. 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 members of the Committee:

1. (Name of the Director), (Designation)
2. (Name of the Director), (Designation)
3. (Name of the Director), (Designation)

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

RESOLVED FURTHER THAT the Committee be and is hereby authorised to issue and allot securities of the company and issue certificates of the securities to the respective holders thereof. 

RESOLVED FURTHER THAT the Committee be and is hereby authorised to take all necessary steps, decisions required in connection with allotment of securities of the company, to settle any question, difficulty or doubt that may arise in regard to the offer/ issue and allotment of securities 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.”