CA SHUBHAM Mittal (CA ) (441 Points)
06 October 2014Is there a need to pass board resolution for renewal of lease agreement which originally was approved by board resolution.
*RENU SINGH *
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(21627 Points)
Replied 06 October 2014
resolution should be put forth for renewal of Lease, as sanctioning the lease for a period is one thing and renewal of the same is different matter. Until and unless, its clearly mentioned that lease would be renewed for 5 years or whatever time, the resolution need to be passed, otherwise not.
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