293 (1) (a)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 If once resolution in the General Meeting has been passed under section 293(1)(a) authorizing BOD to mortgage the Compnay's Property, whether in future if Company goes for mortgaging the property it would be required again to pass such resolution?

Ajay Mishra

Ajay Mishra (Expert)
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12 January 2013 Hi

Yes, you can used it as it is blanket approval. Once you have passed this resolution it will be used till your management decide.

Please ensure that if you have passed resolution under 293(1) (a) along with section 293 (1) (d) then the limit of 293(1) (a) will be until you cover the borrowing limit mentioned in section 293 (1) (d).

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 sir but sec 293(1)(d) is not applicable its a transcation of ordinary course of business

Ajay Mishra

Ajay Mishra (Expert)
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12 January 2013 Hi

Ok. Then you can use it as blanket approval under section 293(1) (a).

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