RESOLUTION FOR GENERAL AUTHORITY TO BOARD OF DIRECTORS FOR INVESTMENT IN OTHER CORPORATE BODIES

RESOLUTION FOR GENERAL AUTHORITY TO BOARD OF DIRECTORS FOR INVESTMENT IN OTHER CORPORATE BODIES

RESOLVED that pursuant to section 372 and other applicable provisions, if any, of the Companies Act, 1956 and subject to the approval, wherever necessary of the Central Government in addition to the investments in the shares of any body or bodies corporate which the Board of Directors of the company is entitled to make up to the limits prescribed under section 372 of the Companies Act, 1956, the Board of Directors of the company be and is hereby authorised to further invest, in excess of the said limits, in the shares of any body or bodies corporate, as may be decided by the Board of Directors; provided that no investment shall be made pursuant to the authority conferred hereby if the aggregate of the proposed investment and the investments then existing will exceed by Rs . ………… crores or more, either of the limits prescribed by the provisos to section 372(2).

FURTHER RESOLVED that the Board of Directors be and is hereby authorised to do all such acts, deeds, matters and things as in its absolute discretion it may consider .necessary, expedient or desirable and to settle any question or doubt that may arise in relation thereto in order to give effect to this resolution or otherwise considered by the directors to be in the best interests of the company.