Cancellation of Shares - SR

Special Resolution For Cancellation Of Shares

“RESOLVED THAT pursuant to Section 61(1)(e) and other applicable provisions, if any, of the Companies Act, 2013, and article____ of the articles of association of the company, the authorised share capital of the company be and is hereby reduced from ` ________/- (Rupees _______) divided into ________ (______) equity shares of ` __/- (Rupees ___) each to ` ________ (Rupees ______) divided into _______ (________) equity shares of ` __/- (________) each by cancelling _______ (_________) equity shares of ` __/- (Rupees ___) each, which have not been taken or agreed to be taken by any person and consequently Clause V (share capital clause) of the memorandum of association of the company be and is hereby substituted with the following:

“V. The authorised share capital of the company is ` _________ (Rupees _______) divided into _______ (_________) equity shares of ` __/- (Rupees ___) each.”

Explanatory Statement;

The company was incorporated on ______ with an authorised share capital of ` __________/- (Rupees ________) divided into _________ (________) equity shares of ` __/- (Rupees ___) each. The present issued, subscribed and paid-up share capital of the company is ` ________/- (Rupees _________) divided into _________ (_______) equity shares of ` __/- (Rupees ___) each. The company has no proposal at hand which would require additional capital. The Board of directors of the company, at its meeting held on _______ had resolved to reduce the authorised share capital of the company by cancelling _______ (__________) equity shares of ` __/- (Rupees ___) each, which have not been taken or agreed to be taken by any person. Therefore, the proposed special resolution is before the shareholders of the company for their consideration and approval.

None of the directors of the company is interested in the proposed resolution.

Investment And Finance Business

Main Object Clause of an entity having business of Investment and Finance

(For Example: L&T FINANCE HOLDINGS LIMITED)

To carry on the business of Investment/finance Company in all its branches and to invest, sell, purchase, exchange, surrender, extinguish, relinquish, subscribe, acquire, undertake, underwrite, hold, auction, convert or otherwise deal in any shares, stocks, debentures, debenture stock, bonds, negotiable instruments, hedge instruments, warrants, certificates, premium notes, treasury Bills, obligations, inter corporate deposits, call money deposits, public deposits, commercial papers, options futures, money market securities, marketable or non marketable securities, derivatives and other instruments and securities issued, guaranteed or given by any government, semi-government, local authorities, public sector undertakings, companies, corporations, co-operative societies, trusts, funds, State, Dominion sovereign, Ruler, Commissioner, Public body or authority, Supreme, Municipal, Local or otherwise and other organisations/entities persons and to acquire and hold controlling and other interests in the securities or loan capital of any issuer, company or companies.

Share Broker Business

To carry on the business as Securities Brokers, Share and Stock brokers, finance and investment brokers, sub-brokers, underwriters, sub-underwriters and consultants for and to purchase, acquire, hold, sell, buy, invest, trade, exchange, deal, barter, borrow, lend, guarantee, offer, comfort for, pledge, hypothecate, charge and/or deal in investment instruments of all kinds and types, whether securities or not, including shares, stocks, debentures, bonds, cumulative convertible preference shares, certificates of deposits, commercial papers, participation certificates, other securities by original subscription, coupons, warrants, options and such other derivatives, and other mutual funds or any other securities issued by governments, corporations, co-operatives, firms, trusts, societies, authorities etc. whether situated in India or abroad and to carry on financial operations of all kinds including hire-purchase, leasing, credit rating, money changing’s, stock exchange membership to arrange bought out deals, to arrange placement of securities and to carry on business of management consultancy or to engage in activities such as portfolio management services, research in to various investment opportunities, or any other non-fund related activity, to be provided to venture capital funds, private equity funds, foreign institutional investors, investment funds, mutual funds, hedge funds or any other investors (whether private or public and whether local or offshore), for the purpose of investing the funds from time to time in various forms of investments in India. 

Asset Management Business

1. To acquire, hold, sell, buy or otherwise deal in any shares, units, stocks, debentures, debenture-stock, bonds, mortgages, commodities, obligations and other securities or alternative investment items by original subscription, tender, purchase, change, gift or otherwise and to subscribe for the same, either conditionally or otherwise, and to underwrite, sub-underwrite or guarantee the subscription thereof to purchase and sell the above mentioned securities and to carry on and undertake the business of asset management, portfolio management, investment advisory, research services, financial advisors, business counselors, treasury management, advisors, and to render such services to individuals, companies, corporations, trusts and other entities.
2. To carry on the activities of raising or acquiring funds for and/or managing mutual funds, venture capital funds, offshore funds, pension funds, provident funds, insurance funds, alternate investment funds, portfolio management services or any other funds, and to act as managers, consultants, advisors, administrators, attorneys, agents, or representatives of or for mutual funds, venture capital funds, offshore funds. Pension funds, provident funds, insurance funds, alternate investment funds, portfolio management services or any other funds formed or established in India or elsewhere by the Company or any other person (whether incorporated or not) or by any government, state, local authority, association, institution (whether incorporated or not) or any other agency or organization

Investment Business

To acquire, hold, sell, buy or otherwise deal in any shares., units, stocks, debentures, debenture-stock, bonds, mortgages, obligations and other securities by original subscription, tender, purchase, change, gift or otherwise and to subscribe for the same, either conditionally or otherwise, and to underwrite, sub-underwrite or guarantee the subscription thereof to purchase and sell the above mentioned securities and to carry on and undertake the business of hire purchase, leasing including across border leasing, import leasing and to give on lease or on leave and' licence basis, or in any other manner of all types of equipment, property and assets including all kinds of goods, articles or things whether movable or immovable and to act as discount and acceptance house, to arrange acceptance and co-acceptance of bills, to undertake factoring of bills, and other documents, to purchase the book debts and receivables and to lend' and give credit against the same, to draw, make, accept, endorse, discount execute, issue negotiate and sell bills of exchange, promissory notes and advance by discounting or otherwise with or without security upon such terms and conditions as the Company deems fit to borrow, to lend, to negotiate loans, to transact business as promoters, financiers, monetary agents, to raise -or provide venture capital, 10 arrange securitisation of loans, long term debt instruments, real estate/property certificates, to undertake asset management, portfolio management, advisory counselling services