Document background
The Board Resolution For Approval Of Shareholders Agreement is a crucial corporate governance document required under Indian law whenever a company's board needs to formally approve and authorize the execution of a shareholders agreement. This document is typically used when companies are bringing in new investors, restructuring shareholding patterns, or establishing governance frameworks between existing shareholders. The resolution must comply with the Companies Act, 2013 and should be maintained in the company's statutory records. It typically follows a board meeting where the shareholders agreement is discussed in detail, and precedes the actual execution of the shareholders agreement. The resolution must capture key details such as the meeting date, attending directors, material terms considered, and specific authorizations granted. This document is particularly important as it demonstrates proper corporate authorization and can be required by various stakeholders including investors, regulators, and corporate registries.
