Rescission of board resolution
This query is : Resolved
Kanchi Agarwal
(Querist)
24 June 2009
Can we rescind a resolution passed in a Board Meeting?
Please reply
Please reply
Ankur Garg
(Expert)
24 June 2009
Hi,
Yes you can rescind a resolution passed in a Board Meeting.
As decided in Cawley & Co. in re. (1889) a resolution can be rescinded or varied already recorded and signed in the minute book by passing a fresh resolution modifying the earlier resolution.
The earlier resolution becomes ineffective and is rescinded from the date of passing the new resolution.
Regards
Yes you can rescind a resolution passed in a Board Meeting.
As decided in Cawley & Co. in re. (1889) a resolution can be rescinded or varied already recorded and signed in the minute book by passing a fresh resolution modifying the earlier resolution.
The earlier resolution becomes ineffective and is rescinded from the date of passing the new resolution.
Regards
Ankur Garg
(Expert)
24 June 2009
Also remember one thing that the company would be liable to third parties for anything done in pursuance of the earlier resolution during its currency.
Regards
Regards
Manmohan ACA, CS
(Expert)
24 June 2009
completely agree with Ankur
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