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Draft Board Resolution for contribution to National Defence Fund

board resolution for making contribution to national defence fund under section 183According to section 183 of the Companies Act, 2013, the Board of Directors, or any person so authorised by the Board, may contribute such amount as it thinks fit to the National Defence Fund or any other Fund approved by the Central Govt for the purpose of national defence.

The companies are required to disclose in their P&L account any amounts contributed by them to such Defence Funds during the financial year to which such contribution relates.

The Board of Directors in its meeting have to pass a resolution approving such contribution to Defence Fund and authorise any director / officer of the company to make a contribution and do the needful in this regard.

Templates of such board resolution are as follows —



Draft Resolution #1 (Single fund, amount fixed)

“RESOLVED THAT the company do make contributions or donations of Rs. .................... (Rupees ...............................only) to the National Defence Fund of Govt. of India, in compliance with the provisions of section 183 of the Companies Act, 2013, including any statutory modifications thereto or re-enactments thereof for the time being in force, and subject to Article ..... of the Articles of Association of the company.

RESOLVED FURTHER THAT (Name), Managing Director and (Name), Company Secretary of the company be and are hereby severally authorized to do all such acts, deeds and things as may be necessary to give effect to this resolution.”

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Draft Resolution #2 (Single fund, amount not fixed)

“RESOLVED THAT in pursuance with the provisions of section 183 and any other applicable provisions of the Companies Act, 2013, as amended from time to time, read with Article .... of the Articles of Association of the company, the consent of the Board of Directors be and is hereby given to the company for making contributions or donations to the National Defence Fund of Govt. of India, an amount not exceeding Rs. ...................... (Rupees ................................ only) in each financial year.

RESOLVED FURTHER THAT the Managing Director and the Company Secretary of the company be and are hereby severally authorized to do all such acts, deeds and things as may be necessary to give effect to the foregoing resolutions.”

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Draft Resolution #3 (Multiple funds, amount fixed for each)

“RESOLVED THAT the company do make contributions or donations to the following Funds approved by the Central Government of India for the purpose of national defence, in compliance with the provisions of section 183 of the Companies Act, 2013, including any modification(s) thereto for the time being in force, and subject to Article .... of the Articles of Association of the company:

#  Name                               Contribution Amount
1. National Defence Fund   Rs. ......................./-
2. ABCDE Defence Fund   Rs. ......................./-

RESOLVED FURTHER THAT the Managing Director of the company be and is hereby authorized to do all such acts, deeds and things as may be necessary to give effect to this resolution.”

......................................................

Draft Resolution #4 (Multiple funds, amount not fixed for each)

“RESOLVED THAT in pursuance with the provisions of section 183 and any other applicable provisions of the Companies Act, 2013, as amended from time to time, read with Article .... of the Articles of Association of the company, the consent of the Board of Directors be and is hereby given to the company for making contributions or donations to the following Funds approved by the Central Govt. of India for the purpose of national defence, an amount not exceeding Rs. .............. (Rupees ...................................... only) for each fund in any financial year:

#  Name
1. National Defence Fund
2. ABCDE Defence Fund

RESOLVED FURTHER THAT the Company Secretary of the company be and is hereby authorized to do all such acts, deeds and things as may be necessary to give effect to the foregoing resolutions.”



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NOTE: The resolution sample(s) here is only for reference, to help you with drafting. Do refer the exact provisions of the Act, relevant rules framed thereunder and any other applicable laws to be able to not to miss out anything important while drafting.

Comments

  1. Shalini Bhatia7/17/2018

    Seems like a good draft. Thanks for making it available to us!

    ReplyDelete
  2. Lucky Sharma1/26/2019

    thank you so much

    ReplyDelete

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