Board Resolution for Purchase of Property
The following board resolution format as per Companies Act, 2013 can be used for the purchase of property. Whenever a property is purchased in the name of a company, a Board Resolution must be executed by the Company authorising an Officer of the company to execute the sale deed. The board resolution for the purchase of property provided below can be used for the purchase of land or premises by a company.
Board Resolution Format for Purchase of Land
RESOLVED that approval of the Board be and is hereby accorded to the company purchasing parcels of land admeasuring <Area>, <Units> by <Area>, <Units>, situated in <Address of Property> in the State of <State Name>, as specifically indicated in the attached site plan in terms of agreement proposed to be entered into by the company as per draft laid on the table initialed by the chairman for the purpose of identification, with <Seller of Land>, the proposed vendor of the said plot of land for consideration of Rs. <Amount of Consideration> payable in one or more instalments;
FURTHER RESOLVED that. <Person Authorised by Board>, a <Director / Officer of the Company>, be and is hereby authorised to communicate on behalf of the company with the vendor and to arrange registration and mutation of the title to such land in favour of the Company and to procure the necessary certificate of mutation and all the necessary papers and documents in connection therewith be handed over to him.
Board Resolution Format for Purchase of Land & Building
RESOLVED that <Person Authorised by Board>, <Designation> of the Company be and is hereby authorised to negotiate and finalise acquisition of suitable premises in <City> and to arrange for setting up of a <office / factory / guest house / others> on such terms and conditions as he may consider most appropriate and in the best inters of the company.
RESOLVED FURTHER that <Person Authorised by Board>, <Designation> of the Company be and is hereby authorised to execute on behalf of the company such documents and papers as may be required for acquisition of the land/premises and to appear before such authorises as may be necessary for giving effect to the said deal and to attend to all matters incidental thereto.