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Signing of board resolution

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30 June 2015 In a pvt. company where 5 directors are there. One of the director has signed the board resolution and submit to the bank for taking a loan and no other director had signed the resolution. Whether the board resolution is valid.
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Pratik Shah

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Pratik Shah (Expert)
01 July 2015 Yes..it is a valid because the director must have submitted certified true copy of resolution passed in board meeting.

But it also depends on the bank because sometimes, bank asks for two signatures on board resolution.

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