A Board Resolution For Purchase of Shares of Other Company is a crucial corporate document required under Indian law whenever a company intends to acquire shares in another entity. This resolution is mandatory under the Companies Act, 2013, particularly Section 179 and 186, and must comply with various regulatory requirements including SEBI regulations if the target company is listed. The document is used to formally record the board's approval of the share purchase, specify transaction details, demonstrate statutory compliance, and authorize specific individuals to execute the transaction. It typically includes details about the target company, purchase consideration, source of funds, and relevant compliance requirements. This resolution serves as legal evidence of proper corporate authorization and is often required by banks, regulatory authorities, and other stakeholders involved in the transaction.
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1. Title and Date: Specifies that this is a board resolution with the date of the meeting
2. Company Details: Full legal name and registration details of the company passing the resolution
3. Meeting Details: Information about the board meeting including venue, time, and quorum details
4. List of Directors Present: Names of directors who attended the meeting and those who are absent with or without leave
5. Chairman: Designation of the chairman for the meeting
6. Background of the Transaction: Brief description of the proposed share purchase and its business rationale
7. Proposed Transaction Details: Specific details about the shares to be purchased, including quantity, price, and target company details
8. Statutory Compliance Statement: Statement confirming compliance with relevant sections of Companies Act and other applicable laws
9. Financial Considerations: Statement regarding the company's financial capacity to make the purchase and source of funds
10. Resolution: The formal resolution text with specific approvals and authorizations
11. Authorization: Empowerment of specific officers to execute the transaction and related documents
1. Related Party Disclosure: Required if the target company is a related party, disclosing the nature of relationship and special considerations
2. Valuation Report Reference: Include when the purchase price is based on a formal valuation report
3. Competition Law Compliance: Required if the transaction size triggers competition law thresholds
4. Foreign Exchange Considerations: Include if the transaction involves foreign currency or cross-border elements
5. Risk Assessment: Detailed analysis of transaction risks when the purchase is significant or strategic
6. Due Diligence Findings: Summary of key due diligence findings if significant for board's decision-making
1. Details of Target Company: Complete information about the company whose shares are being purchased
2. Share Purchase Terms: Detailed terms and conditions of the share purchase
3. Valuation Report Summary: Key findings from the valuation report if applicable
4. Financial Impact Analysis: Detailed analysis of the transaction's impact on company financials
5. Due Diligence Report: Summary of due diligence findings if conducted
6. Compliance Checklist: List of all regulatory compliance requirements and their status
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Information Technology
Manufacturing
Healthcare
Real Estate
Retail
Telecommunications
Energy & Utilities
Media & Entertainment
Professional Services
Infrastructure
Consumer Goods
Pharmaceuticals
Relevant Teams
Legal
Corporate Secretarial
Finance
Corporate Strategy
Compliance
Risk Management
Corporate Development
Mergers & Acquisitions
Board Secretariat
Investment
Relevant Roles
Chief Executive Officer
Managing Director
Company Secretary
Chief Financial Officer
Legal Counsel
Corporate Strategy Director
Investment Manager
Compliance Officer
Board Director
Finance Director
Corporate Development Manager
Mergers & Acquisitions Director
Risk Management Officer
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