A Board Resolution For Termination of Lease Agreement is a crucial corporate document required under Indian law when a company decides to formally end its lease arrangements. This document is necessary to demonstrate proper corporate authorization and decision-making in accordance with the Companies Act 2013 and relevant property laws in India. It is typically used when a company needs to exit a lease agreement before its natural conclusion, relocate its operations, or respond to changing business needs. The resolution must include specific details about the lease property, termination conditions, and authorize designated officers to execute the termination process. This document serves multiple purposes: it ensures compliance with corporate governance requirements, provides clear authority to company representatives, and creates a formal record of the board's decision for both internal and external stakeholders, including regulatory authorities.

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: Details of the existing lease agreement including date, parties, property details, and reason for termination

5. Reference to Documents: References to the original lease agreement and any relevant correspondence regarding termination

6. Main Resolution: The formal decision to terminate the lease agreement, including specific termination date and conditions

7. Authorization: Authorizes specific officers to execute termination documents and take necessary actions

8. Certification: Certification by the Chairman/Company Secretary that the resolution was duly passed