RESOLUTION FOR APPROVAL OF ADVERTISEMENT FOR INVITING DEPOSITS

RESOLUTION FOR APPROVAL OF ADVERTISEMENT FOR INVITING DEPOSITS

RESOLVED that the text of the advertisement (draft of which was placed on the table at the time of the meeting) for the purpose of inviting and accepting the fixed deposits during the financial year……….based on the annual accounts of the company for the financial years ended on……….and……….be and is hereby approved and that Shri ……….is hereby authorised to make all required changes in the text including any changes in figures pertaining to the financial position of the company as it appears in the text as may become necessary on the basis of the "audited" accounts for the year 1990-91 which will shortly be ready for being placed before the shareholders for adoption at the time of the ensuing ……….Annual General Meeting.

AND FURTHER RESOLVED that the said text of the advertisement after incorporating all the changes therein if and as may be necessary – and duly signed by all or a majority of the Directors on the Board of Directors of the company be registered with the Registrar of Companies, Delhi pursuant to rule 4(4) of the Companies (Acceptance of Deposits) Rules, 1975.

AND ALSO RESOLVED that the Board of Directors hereby authorises Shri …………… Company Secretary to publish the said text of the advertisement in any newspapers, periodicals, etc. published in India, ensuring however, that the said advertisement is published at least once in a leading English newspaper (in the English language) and also in a vernacular newspaper (in the……….language) having circulation in theState of……….in which the registered office of the company is situated.

AND ALSO FURTHER RESOLVED that the forms of application for offering fixed deposits to the company together with the terms and conditions as mentioned therein, the text of which form was placed on the table, be and is hereby approved.