Board Resolution for taking premises on lease

Board Resolution for taking premises on lease: A Draft

What is this resolution for?

The specimen of board resolution provided in this blog is for taking premises on lease by a Company for use as its warehouse.

Key points

  • The board resolution should mention the reason for taking the premises on lease and should authorize directors/officials for signing the lease deed on behalf of the Company.
  • The certified true copy of the resolution can be forwarded by any director or Company Secretary.

Draft Board Resolution for taking premises on lease

Given below is a format of Board Resolution for taking premises on lease by a Company.


Agenda Proposal

The Company requires additional space for storage of raw materials for meeting the steep increase in sales due to which the Company intends to take on lease premises in close vicinity to its plant from M/s (Name of Lessor). Authority needs to be given in favor of the director/official of the Company to sign and register the lease 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 pursuant to the applicable provisions of the Companies Act, 2013 and the rules made there under (including any statutory modification(s) or re-enactment thereof for the time being in force), consent of the Board be and is hereby accorded to take on lease premises located at (Address of the premises) from M/s (Name of the lessor) at a monthly rent of Rs. ………… for a period of ……. years w.e.f. ………… for use as Company’s warehouse and for other administrative purposes and on the terms and conditions as per the draft lease agreement circulated/placed at the meeting.

RESOLVED FURTHER THAT Mr./Mrs. (Director/Official) and Mr./Mrs. (Director/Official) of the Company be and are hereby severally authorized to sign the lease agreement and other documents related to the registration of the lease in favor of the Company and to do all acts, deeds, and things necessary to give effect to the lease agreement.”

___________________________________________________

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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