Sample Template Example of Board Resolution For Memorandum of Understanding Execution in Word / Doc /Pdf Format Free Download
(RESOLUTIONS
TO BE PASSED BY THE BAORD OF DIRECTORS OF TATA SONS PRIVATE LIMITED AT ITS
MEETING HELD ON 16TH JUNE, 2023 AT MUMBAI)
Re : Execution of Memorandum of Understanding and other Documents for assignment of Trade Marks / Brand Rights by Bata India Limited in the Company's name :
The Board
was informed that pursuant to the Board's decision taken at the Board Meeting
held on 14th February, 2023, Mr. Sanjiv Kumar Goenka, Director of
the Company, had held many meetings with Mr. Anil Prasad, Executive Director
& CEO of Bata India Limited in connection with assignment of Bata India
Limited's Rights on its Trade Marks / Brand
in the name of the Company.
Mr. Sanjiv
Kumar Goenka informed the Board that after series of negotiations, Bata
India Limited had agreed to various
terms and conditions acceptable by the Company at a lump sum consideration of
Rs. 300 crores payable by the Company to Bata India Limited in two trenches
i.e. Rs. 200 crores after signing of MOU / Assignment Deed and balance Rs 100 crore
after registration / transfer of Trade Marks / Brand Rights in the name of the
Company.
Mr. Goenka
then placed on the table a draft Memorandum of Understanding (MOU) inter-alia
stating the broad terms and conditions and consideration payable, agreed
mutually in between the Company and Bata India Limited subject to its approval
by the Board of respective Companies, which the Board perused.
The Board
discussed the matter at length and unanimously:
“RESOLVED
THAT the consent of the Board of Directors of the
Company be and is hereby accorded to
obtain assignment rights on the Trade Marks / Brand owned by Bata India Limited
in the name of the Company for full and final consideration of Rs.300 Crores
(Rupees Three Hundred Crores) on the terms and conditions as per the draft
Memorandum of Understanding (MOU), a copy whereof is placed on the table and is
approved by the Board for its execution between the Company and Bata India
Limited.”
“RESOLVED
FURTHER THAT Mr. Sanjiv Kumar Goenka, Director of the Company,
be and is hereby authorized to sign and execute MOU, duly approved as per the
draft placed on the table, on behalf of the Company and further to represent
the Company and to sign and execute all necessary papers, agreements, deed of
assignment etc as may be required to be executed in future in between the
Company and Bata India Limited for assignment of Trade Marks / Brand rights by Bata
India Limited in favour of the Company.”
Download Board Resolution For Memorandum of Understanding Execution
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