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Board Resolution for Sale of Company Asset

Resolutions 2590 views 2 replies

Dear All,

If a company wishes to dispose of its property, which does not amount to an 'undertaking' under section 180 of the Companies Act, 2013. Does the company require a board resolution or the managing director/whole time director can dispose of the same without a board resolution? Further, if the managing director/whole time director has been authorised under the AoA of the company with the power to sell an asset, does the company need a separate board resolution authorising the same? 

Replies (2)
As per my view "No need resolution and also in AoA".

No there is no need to have separate board resolution if the MD or any other person is duly authorized by the members. You can visit the www.corporatedrafting.com to have a complete checklist and procedure along with downloading the specified resolutions for the same


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