Can anybody please tell me for what purposes board resolutions are passed ?
I want to know , the situations in which the board resolution is required ?
3 Replies
Jagruti (CS)
(Service)
(1953 Points)
Replied 10 August 2010
As per Companies Act , certain transaction needs to be done only without the consent of board of directors of the Company. Hence, any activity or transaction to which Board gives consent need to be recorded in Minutes as Resolution.
vivek
(CS)
(751 Points)
Replied 10 August 2010
Being a seperat legal entity Company is supposed to do it's own decisions but simultaneousy it is a artificial person so decisions are being taken by the management, as per the requirement of The Companies Act, 1956- there are certain decisions which must be taken either in the Board Meeting/ General Meeting/ Committee Meeting and there is certain other ways like sometime few decisions are taken by MD and other functional director that is being taken according to the authority given to them by Board. For sure if Act is stating any transaction must be done in this mode you will have to adopt the same.
Regards,
vivek
(CS)
(751 Points)
Replied 10 August 2010
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