A finance company always executing Power of Attorney in favour of their employees regarding their work area, it is become very bulky for company always held Board Meeting only for this work. So, is it any provision in any law to prevent unlisted public company for this work and is it any way to resolved this matter without such hurdle ?? please reply me ASAP.
5 Replies
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 19 November 2013
Hi
As per my view no need to submit this kind of item in Board Meeting. If managment demand, you can take one time blanket approvel and authorise someone to handle this in near future.
Rahul Agrawal
(Company Secretary)
(30 Points)
Replied 19 November 2013
| Originally posted by : Rahul Agrawal | ||
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Thank you Sir, but can u send speciman of this kind of approval and when company executive any Power of Attorney should it has to be noted in near Board Meeting and is their this work has to be done wia 'Resolution by Circulation'.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 19 November 2013
I don't have this kind of resolution. You can make it as per your suitability.
Yes you can pass it by circulation.
Rahul Agrawal
(Company Secretary)
(30 Points)
Replied 19 November 2013
Sir, I am asking that is it compulsory to pass it as a 'Resolution by Circulation'. and if i passed that resolution than should every executed POA has to be notified by Board of Directors ?
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 19 November 2013
No, it is not mandatory to pass it by circulation. It is also not required to take noting of POA executed before the meeting. Its depend on your management.
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