Board resolution

Hey Clubbers,

 

Clarify me whether a Private Limited company has to pass Board Resolution in order to avail Unsecured Loan.

 

If so, is it fine, if an Ordinary Resolution or a Special Resolution has to be passed.

 

Resolution type will be decided according to the Articles of Association. In certain cases how to identify & clasify under which type the resolution has to be passed? (I mean Ordinary or Special)

 

Please Guide

Shankar 

Replies (1)

Bhai Saab,

 

Please note; most of the business activities performed in a public and private company should be approved/accompanied by a board resolution. In board meeting resolutions are passed by simply majority. For example out of total 5 board members, consent of 3 is must to pass the resolution.

 

Ordinary and special resolutions are not the subject matter of board meetings.

 

In shareholders meeting resolution are passed as ordinary or special resolutions. For more information about ordinary and special resolutions kindly refer section 189 of the companies Act, 1956.

 

Need of special resolution is given in law (Like section 100, 81(1A), 21 etc), and where nothing is mentioned in the concerned section, resolution is to be passed as ordinary resolution.

 

Yes a Private Limited company has to pass Board Resolution in order to avail Unsecured Loan.

 

I hope the above info would be of some help.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
13 August 2026
Chartered Accountant (FP&A)

Client of Trellis Consulting

Gurgaon

CA

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details