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Sec.372A

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2011 Dear Members,

A public company given guarantee (within the limit) for the Loan to its subsidiary with out any resolution. But within 2 months of event Board understand the importance of resolution and want to ratify the action in the next Board Meeting.

Can it ratify the guarantee given earlier?

seeking your opinion / ideas, please.
Regards
K Degaleeswaran
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Pravin Gupta CS

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Pravin Gupta CS (Expert)
08 May 2011 ya Board can rectify the resolution earlier by passing a new resolution......
So.,,, Pass the new resolution
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