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    chp10 - M4 Minutes Format

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    The board meeting discussed voluntarily winding up the company due to mounting liabilities and declining income. The board approved the statement of assets and liabilities. Resolutions were passed to put the company into creditors' winding up subject to shareholder approval at an EGM. Meetings of shareholders and creditors were scheduled, and notices would be issued by the Secretary. A Director was authorized to preside over the creditors' meeting.

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    chp10 - M4 Minutes Format

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    jeevan_v_m
    51 views1 page
    The board meeting discussed voluntarily winding up the company due to mounting liabilities and declining income. The board approved the statement of assets and liabilities. Resolutions were passed to put the company into creditors' winding up subject to shareholder approval at an EGM. Meetings of shareholders and creditors were scheduled, and notices would be issued by the Secretary. A Director was authorized to preside over the creditors' meeting.

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    notice,resolution format4 minutes format

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    chp10_M4 minutes format

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    The board meeting discussed voluntarily winding up the company due to mounting liabilities and declining income. The board approved the statement of assets and liabilities. Resolutions were passed to put the company into creditors' winding up subject to shareholder approval at an EGM. Meetings of shareholders and creditors were scheduled, and notices would be issued by the Secretary. A Director was authorized to preside over the creditors' meeting.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as RTF, PDF, TXT or read online from Scribd
    Download as rtf, pdf, or txt
    51 views1 page

    chp10 - M4 Minutes Format

    Uploaded by

    jeevan_v_m
    The board meeting discussed voluntarily winding up the company due to mounting liabilities and declining income. The board approved the statement of assets and liabilities. Resolutions were passed to put the company into creditors' winding up subject to shareholder approval at an EGM. Meetings of shareholders and creditors were scheduled, and notices would be issued by the Secretary. A Director was authorized to preside over the creditors' meeting.

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    M. 4.

    MINUTES OF THE BOARD MEETING CONDUCTED FOR CREDITORS’


    WINDING UP BY MEMBERS
    Present : Mr. X Chairman
    Mr. Y Directors
    Mr. Z
    Mr. R, Company Secretary
    Mr. X, Chairman of the Board, took the Chair—
    1. Leave of absence to the absentee directors.
    All directors were present.
    2. Proposal for voluntary winding up of the company—
    The Chairman informed the Board that in view of the mounting liabilities
    and the sharp decline in income, it would be difficult to run the company
    profitably and clear the debts. The Board received the statement of assets
    and liabilities of the company placed before the Board, duly initialled by the
    chairman. After discussion, the Board agreed in principle to put the
    Company into creditors’ winding up. After discussion, the following
    resolutions were passed :
    (a) “RESOLVED that, subject to the approval of shareholders at an
    Extraordinary General Meeting, the Company be wound up voluntarily.”
    (b) “RESOLVED FURTHER that the draft statement of position and the list of
    creditors as on (date) submitted to this meeting and initialled by
    the Chairman for the purpose of identification, be approved and that
    the Chairman be and is hereby authorised to sign the same.”
    (c) “RESOLVED FURTHER that an Extraordinary General Meeting of the
    company be convened on Friday the (date) at 11 a.m. at the
    Registered Office of the Company to transact the business set out in
    the draft notice submitted to this meeting and that the Secretary be
    and is hereby authorised to sign and issue the same to all eligible
    members.”
    (d) “RESOLVED FURTHER that a meeting of the creditors of the company be
    convened on Friday, the (date) at 11.30 a.m. at the Registered
    Office of the Company to transact the business set out in the draft
    notice submitted to this meeting and that the Secretary be and is
    hereby authorised to sign and issue the same to all eligible creditors.”
    (e) “RESOLVED FURTHER that Mr. , a Director of the company, be and he is
    hereby authorised to preside at the said meeting of the creditors of the
    company
    There being no other matter, the meeting ended with a vote of thanks to
    the Chair.

    Signature

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