A Board Resolution For Sale of Company is a crucial corporate document required under Indian law when a company intends to sell its business or undertaking. This resolution is mandated by the Companies Act, 2013, and must be passed at a valid board meeting with proper quorum. The document serves multiple purposes: it demonstrates proper corporate authorization, records the board's informed decision-making process, and provides necessary authority to proceed with the sale transaction. It should be used whenever a company plans to sell its business, whether wholly or substantially, and must include specific details about the transaction, buyer, consideration, and compliance with legal requirements. The resolution also typically addresses regulatory approvals, shareholder consent requirements, and appointment of authorized representatives to execute the sale documents.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Title and Date: Specifies that this is a resolution of the Board of Directors, including company name and meeting date
2. Attendance and Quorum: Lists directors present and confirms meeting quorum requirements are met
3. Chairman: Identifies the Chairman of the meeting
4. Background: Explains the context and rationale for the proposed sale of the company
5. Key Transaction Terms: Outlines the fundamental terms of the sale including purchase price, buyer details, and basic structure
6. Board Considerations: Details the factors considered by the Board in reaching their decision
7. Declaration of Interest: Directors' disclosures of any interests in the transaction
8. Main Resolution: The formal resolution text approving the sale and authorizing specific actions
9. Authority to Execute: Designates authorized signatories for transaction documents
10. Statutory Compliance: Confirms compliance with relevant laws and regulations
11. Certification: Company Secretary's certification of the resolution
1. Special Conditions: Required when there are specific conditions precedent or subsequent to the sale
2. Regulatory Approvals: Needed when specific regulatory clearances are required (e.g., CCI approval)
3. Foreign Investment Provisions: Required when the sale involves foreign buyers or FEMA compliance
4. Employee Matters: Needed when specific employee-related decisions are part of the sale
5. Intellectual Property: Required when specific IP-related decisions need board approval
6. Real Estate Assets: Needed when specific real estate transfers require separate approval
7. Shareholder Approval: Required when the transaction needs subsequent shareholder approval
1. Schedule A - Transaction Summary: Detailed summary of the sale transaction terms
2. Schedule B - Valuation Report: Summary or reference to independent valuation report
3. Schedule C - Asset List: List of major assets included in the sale
4. Schedule D - Material Contracts: List of material contracts affecting the sale
5. Appendix 1 - Director Attendance: Detailed attendance record including video/audio participation
6. Appendix 2 - Notice and Agenda: Copy of board meeting notice and agenda
7. Appendix 3 - Legal Opinion: Reference to legal opinion on transaction structure, if any
Relevant legal definitions
Company
Board of Directors
Sale Transaction
Buyer
Purchase Consideration
Closing Date
Business
Assets
Effective Date
Transaction Documents
Authorized Representatives
Companies Act
Applicable Law
Material Contracts
Regulatory Approvals
Shareholders
Articles of Association
Memorandum of Association
Undertaking
Due Diligence
Valuation Report
Competition Commission of India
SEBI
Related Party
Transfer
Business Day
Completion
Encumbrance
Intellectual Property Rights
Material Adverse Effect
Board of Directors
Sale Transaction
Buyer
Purchase Consideration
Closing Date
Business
Assets
Effective Date
Transaction Documents
Authorized Representatives
Companies Act
Applicable Law
Material Contracts
Regulatory Approvals
Shareholders
Articles of Association
Memorandum of Association
Undertaking
Due Diligence
Valuation Report
Competition Commission of India
SEBI
Related Party
Transfer
Business Day
Completion
Encumbrance
Intellectual Property Rights
Material Adverse Effect
Clauses
Meeting Details
Quorum Confirmation
Board Composition
Declaration of Interest
Transaction Overview
Purchase Consideration
Asset Transfer
Regulatory Compliance
Shareholder Approval
Authority Delegation
Execution Powers
Document Authorization
Statutory Compliance
Employee Matters
Due Diligence
Conditions Precedent
Valuation Approval
Legal Compliance
Foreign Investment
Competition Law
Securities Regulations
Tax Matters
Property Transfer
Intellectual Property
Material Contracts
Certification
Quorum Confirmation
Board Composition
Declaration of Interest
Transaction Overview
Purchase Consideration
Asset Transfer
Regulatory Compliance
Shareholder Approval
Authority Delegation
Execution Powers
Document Authorization
Statutory Compliance
Employee Matters
Due Diligence
Conditions Precedent
Valuation Approval
Legal Compliance
Foreign Investment
Competition Law
Securities Regulations
Tax Matters
Property Transfer
Intellectual Property
Material Contracts
Certification
Relevant Industries
Manufacturing
Technology
Retail
Financial Services
Healthcare
Real Estate
Infrastructure
Telecommunications
Energy
Professional Services
Media and Entertainment
Automotive
Consumer Goods
Pharmaceuticals
Relevant Teams
Legal
Corporate Secretarial
Board of Directors
Executive Leadership
Compliance
Finance
Corporate Development
Risk Management
Mergers & Acquisitions
Corporate Affairs
Relevant Roles
Chief Executive Officer
Managing Director
Company Secretary
Chief Financial Officer
Legal Director
Compliance Officer
Board Chairman
Independent Director
Corporate Lawyer
Investment Banker
Chief Legal Officer
Director of Corporate Affairs
Risk Management Officer
Corporate Development Director
M&A Director
Find the exact document you need
Board Resolution For Transfer Of Shares In Demat Form
An Indian corporate resolution authorizing the transfer of dematerialized shares, compliant with Companies Act 2013 and SEBI regulations.
find out more
Board Resolution For Termination Of Lease Agreement
An Indian corporate document recording board approval for terminating a lease agreement and authorizing officers to execute the termination.
find out more
Board Resolution For Renewal Of Bank Guarantee
An Indian corporate document authorizing the renewal of an existing bank guarantee, compliant with Companies Act 2013 and RBI guidelines.
find out more
Board Resolution For Opening Of Suspense Escrow Demat Account
An Indian corporate board resolution authorizing the opening and operation of a suspense escrow demat account, compliant with Companies Act 2013 and SEBI regulations.
find out more
Board Resolution For Grant Of ESOP
An Indian corporate document authorizing the grant of employee stock options, detailing terms and conditions in compliance with Companies Act and SEBI regulations.
find out more
Board Resolution For Forfeiture Of Shares
An Indian corporate document recording the board's resolution to forfeit shares of defaulting shareholders, in compliance with Companies Act, 2013 and relevant regulations.
find out more
Board Resolution For Dormant Company
An Indian corporate document recording the board's resolution to obtain dormant company status under Section 455 of the Companies Act, 2013.
find out more
Board Resolution For Conversion Of Opc To Private Company
An Indian company law document recording the board's resolution to convert from One Person Company (OPC) to Private Limited Company status.
find out more
Board Resolution For Conversion Of Company Into Llp
An Indian board resolution authorizing and documenting the conversion of a company into a Limited Liability Partnership (LLP), in compliance with Indian company law.
find out more
Board Resolution For Company Becoming Partner In LLP
An Indian corporate board resolution authorizing a company's entry as a partner into a Limited Liability Partnership, including investment terms and authorizations.
find out more
Board Resolution For Change Of Registered Office
An Indian corporate document recording the board's formal approval for changing a company's registered office address, governed by the Companies Act, 2013.
find out more
Board Resolution For Authorisation
An Indian corporate document that formally records the board's decision to delegate specific powers or authority to designated individuals or entities.
find out more
Special Resolution For Taking Loan
An Indian corporate resolution authorizing borrowings beyond statutory limits under Section 180(1)(c) of the Companies Act, 2013, requiring 75% shareholder approval.
find out more
Resolution Of Society For Opening Bank Account
An Indian legal document recording a society's formal decision and authorization to open and operate a bank account, including details of approved signatories and banking arrangements.
find out more
Resolution For Appointment Of New Trustee
A legal document under Indian law that formalizes the appointment of a new trustee to an existing trust, compliant with the Indian Trusts Act, 1882.
find out more
Board Resolution For Conversion Of Loan Into Equity
An Indian law-compliant board resolution authorizing the conversion of outstanding loan obligations into equity shares, outlining conversion terms and regulatory compliance requirements.
find out more
Board Resolution For Company Closure
An official resolution under Indian law documenting the Board of Directors' decision and approval for closing down a company's operations.
find out more
Board Resolution For Termination Of Agreement
An Indian corporate document recording the Board of Directors' formal decision to terminate an existing agreement, compliant with the Companies Act, 2013.
find out more
Board Resolution For Subdivision Of Shares
An Indian corporate resolution documenting the board's approval to subdivide company shares into smaller denominations, in compliance with Companies Act, 2013.
find out more
Board Resolution For Issue Of Convertible Notes
An Indian law-compliant board resolution authorizing the issuance of convertible notes, including terms, conditions, and regulatory compliance requirements.
find out more
Unanimous Board Resolution
An Indian corporate document recording unanimous decisions made by a company's board of directors, compliant with the Companies Act, 2013.
find out more
Board Resolution For Redemption Of Debentures
An Indian law-compliant board resolution authorizing and documenting the company's decision to redeem its debentures.
find out more
Board Resolution For Share Purchase Agreement
An Indian corporate document recording board approval for a share purchase transaction, compliant with the Companies Act, 2013.
find out more
Board Resolution For One Person Company
A formal document recording decisions made by the sole director-member of an Indian One Person Company, compliant with the Companies Act, 2013.
find out more
Board Resolution For Demat Account Opening
An Indian corporate governance document authorizing the opening and operation of a company's demat account for securities trading.
find out more
Board Resolution For Change In Shareholding Pattern
An Indian corporate document that formally records and approves changes in company share ownership, compliant with the Companies Act, 2013.
find out more
Appointing A Director By Ordinary Resolution
An ordinary resolution document under Indian company law for appointing a director, including required statutory declarations and compliance documentation.
find out more
Board Resolution To Open Bank Account
An Indian corporate document authorizing the opening of a company bank account and designating account operators, as required under the Companies Act 2013.
find out more
Special Board Resolution
A formal Indian corporate document recording significant Board decisions requiring special majority approval under the Companies Act, 2013.
find out more
Resolution For Transfer Of Shares
An Indian corporate resolution document that formally approves and records the transfer of shares between parties under Indian company law.
find out more
First Board Meeting Resolution
A statutory document under Indian law recording resolutions passed at a company's first board meeting, establishing initial corporate governance framework.
find out more
Board Resolution For Call On Shares
An Indian corporate document recording the board's resolution to demand payment on partly paid shares, specifying call amounts and payment terms under Indian company law.
find out more
Board Resolution For Appointment Of Nominee Director
An Indian corporate resolution documenting the board's approval for appointing a nominee director, as per Companies Act, 2013 requirements.
find out more
Board Resolution For Sale Of Shares Of Subsidiary Company
An Indian corporate resolution documenting board approval for the sale of subsidiary company shares, compliant with Companies Act, 2013.
find out more
Board Resolution For Resignation Of Company Secretary
An Indian company law document recording the Board's acceptance of a Company Secretary's resignation and authorizing related regulatory actions.
find out more
Board Resolution For Purchase Of Shares Of Other Company
An Indian corporate document recording board approval for purchasing shares in another company, compliant with Companies Act 2013 and SEBI regulations.
find out more
Board Resolution For Joint Venture
An Indian law-compliant board resolution documenting approval and authorization for entering into a joint venture arrangement, following Companies Act, 2013 requirements.
find out more
Board Resolution For Increase In Paid Up Capital
An Indian corporate document recording the board's resolution to increase paid-up capital, governed by the Companies Act, 2013.
find out more
Board Resolution For Increase In Authorised Share Capital
An Indian corporate resolution documenting the board's approval to increase the company's authorized share capital, as mandated by the Companies Act, 2013.
find out more
Board Resolution For Declaration Of Dividend
An Indian corporate law document recording the board's formal decision to distribute company profits as dividends to shareholders, in compliance with the Companies Act, 2013.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)