Kavitha (-) (210 Points)
31 January 2014Dear Friends,
In a Company where Shareholders Agreement has been executed where BM can be conducted only in the presence of 2 parties directors, where one of the party resides out of the station, can we pass a master resolution in relation to Loan/Ods, etc., that the other party's directors are authorized to take ODs/loans, etc.
Regards,
Kavitha.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 31 January 2014
Yes, refer Proviso to Sec.292(1).
CAclubindia
