Board Resolution for purchase of land/premises/property: A Draft
What is this resolution for?
The specimen of board resolution provided in this blog is for the purchase of land/premises/property by a Company.
Key points
- The board resolution should mention the reason for buying the land/premises/property.
- The certified true copy of the resolution can be forwarded by any director or Company Secretary.
Draft Board Resolution for purchase of land/premises/property
Given below is a format of Board Resolution for the purchase of land/premises/property by a Company.
Agenda Proposal
The Company needs to acquire land/premises/property in (mention the name of State/District) for the purpose of setting up a manufacturing unit/storage of raw materials or finished goods. Authority needs to be given in favor of the director/official of the Company to sign and register the sale deed and other documents.
The Board members may discuss and approve the following resolution.
On Company Letterhead
Board Resolution
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED BY THE BOARD OF DIRECTORS OF (NAME OF COMPANY) IN ITS MEETING (S.NO.) HELD AT (VENUE OF BOARD MEETING) ON (DATE) AT (TIME)
“RESOLVED THAT consent of the Board be and is hereby accorded for the purchase of land/property/premises bearing Survey No…., admeasuring about (mention the area), situated, lying and being at …………… (mention the District and State), for the purpose of setting up of Company’s manufacturing unit/storage of raw materials or finished goods.
RESOLVED FURTHER THAT Mr./Ms. (Name of Director/Officer), and Mr./Ms. (Name of Director/Officer) be and are hereby severally authorized to execute Sale Deeds & other Agreements and to sign and present the said Sale Deeds, for Registration before Sub-Registrar or any other Competent Authority, to Grant the Receipts, to sign other related papers, forms, documents, Applications of all sorts, filings, and other required statements and papers, and to do each and everything in connection with the Registration of the above said sale deeds and /or notarizing the other Deeds or Agreements on behalf of the company regarding the Purchase of above-referred Land/property/premises.
RESOLVED FURTHER THAT the Common Seal of the Company be affixed on the documents wherever necessary in terms of Articles of Association of the Company in the presence of Mr./Mrs. (Name of Director) and Mr./Mrs. (Name of Director).”
___________________________________________________
For (COMPANY’s NAME)
(Name of Director)
Director
DIN: ___________
Date: ___________
Note: The resolution given above is only for reference purposes and it should be used only after adhering to the provisions of the relevant Acts and rules (if any) that may be applicable for the time being in force.
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