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resolution for purchase of land

SANJAY KUMAR GARG (PROPRIETOR) (24 Points)

14 December 2010

resoltuion for purchase of land

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10 Replies

Jaideep (Service) (1368 Points)
Replied 14 December 2010

Meeting of the board held to delegate relevant powers and authorities to the Director/Authorised Signatory, Shri .......................S/O Shri ....................... to complete relevant administrative, revenue and legal formalities for purchasing the said property being .................. Land admeasuring .............Hectares Khasra No......................................., Tahsil................ and District .......................

“Resolved that Shri ....................................... is here by authorised to complete all administrative revenue and legal formalities to purchase the aforesaid property in the name of the company. He is also authorised to effectuate all relevant requisitions to get the document of conveyance appropriately registered before the Registering Authority and to acquire a clear marketable title pertaining to the said property."

“RESOLVED THAT the Director of the Company Mr. .......................... the Director be and is hereby authorised to negotiate with the ........................................... in connection with the various formalities for transfer of leasehold rights of Plot bearing .................... in favour of M/s. ..............................(name of the company).

FURTHER RESOLVED THAT Shri ....................... the Director of the Company be and is hereby authorised to execute all the necessary legal documents or supplemental Agreement or any other documents/s as may be required by M.I.D.C. OR any other concerned authorities for completing various formalities for transfer of leasehold rights of their plot in favour of M/s. ....................................(name of the compnay)

FURTHER RESOLVED THAT in pursuance of Clause ..................of the Articles of Association of the Company, Shri ..................., Director of the Company be and is hereby empowered and authorized to affix a Common Seal of the Company on any documents referred above.”

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 14 December 2010

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF THE BOARD OF DIRECTORS OF ABC PRIVATE LIMITED HELD ON THURSDAY THE 12^ND DAY OF jUNE, 2008 AT 01.00 P.M. AT THE REGISTERED OFFICE OF THE COMPANY.

“RESOLVED THAT pursuant to the applicable provisions of Companies Act, 1956 consent of the board of directors of the company be and is hereby accorded to acquire by purchase or otherwise the Land, agriculture field or other property situated at _______ for business purpose on such terms and conditions as may be consider appropriate and in the best interest of the Company.

RESOLVED FURTHER THAT Mr. Dashrath Maheshwari, Authorised Representative of the Company be and is hereby authorized to negotiate and finalize the terms of such acquisition and to sign and execute sale/lease deed and all other documents and papers which deemed to be necessary related to purchase of the property and to give effect to the above resolution.

RESOLVED FURTHER THAT the common seal of the company, wherever required, be affixed herein for completion of aforesaid documentation.

Certified True Copy

For ABC Private Limited

Director

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Rajni (Company Secretary) (68 Points)
Replied 15 April 2011

Can anybody provide me resolution for authorising buy and sell of specific immovable property by a private company.

Ragrds

Rajni LAlwani

(Guest)

....................................... is here by authorised to complete all administrative revenue and legal formalities to purchase the aforesaid property in the name of the company. He is also authorised to effectuate all relevant requisitions to get the document of conveyance appropriately registered before the Registering Authority and to acquire a clear marketable title pertaining to the said property."

Dhiraj Bagri (Manager - Finance & Accounts) (174 Points)
Replied 30 July 2012

Dear Respected Members,

I need your view on the following: -

If a private company sells its immovable property to the Director then whether we need to pass any resolution for the same. In the given case purchasing & selling the property is not the main course of business of the company.

As far as my reckoning goes this is not hit by section 297.

Thanking you