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resolution

Anup Gupta (Service) (52 Points)

23 March 2010

Hi everyone,

I want to authorise my Production Manager for a specific agreement of purchase & sale of raw materials. That authorisation would be only for transactions done with specific company.

Do I need to pass a resolution or a simple authorisation would do?

Please send me the format in both the cases.

Thanks

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3 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 23 March 2010

Yes.

This kind of authorisation should be supported by a board resolution. However there is no legal requirement as such. But this practice is good for the company itself.

Regards

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Anup Gupta (Service) (52 Points)
Replied 23 March 2010

Thanks, can u just give me a format for the board resolution

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 23 March 2010

Dear Anup,

Find below desired resolution and modify it according to your need:

“RESOLVED THAT the Company do enter into any agreement with ABC Limited with regard to purchase and sale of raw materials and Mr. Vivek jain, Authorized Representative of the Company be and is hereby authorized to deal on behalf of the company and to sign, execute, amend, modify, or alter any such above agreement(s) or other related papers/documents with respect to the above purchase and sale of raw materials.

RESOLVED FURTHER THAT Mr. Anup Gupta, Director of the Company be and is hereby authorised to delegate the aforesaid power to any person by power of attorney or otherwise as deemed necessary fit and appropriate.”