Currency of Shareholders Resolutions

Any allotment pursuant to any resolution passed at a meeting of shareholders of a company granting consent for preferential issues of any financial instrument should be completed within a period of three months from the date of passing of the resolution. The equity shares/convertible securities allotted in terms of this resolution should be made fully paid-up at the time of their allotment. If the allotment of instruments and dispatch of certificates is not completed within three months from the date of such resolution as a fresh consent of the shareholders should be obtained and the relevant date mentioned earlier would relate to the new resolution.

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