Authorization to indepedent director for day to day activity
This query is : Open
Law Aspire
(Querist)
01 August 2017
In a real estate Private limited Company , a person is appointed as a non-executive independent Director.
Whether Board of Directors can authorize him for signing and execution of Sale Deed of Properties of the Company?
Whether Board of Directors can authorize him for signing and execution of Sale Deed of Properties of the Company?
RICHA KUMAR
(Expert)
01 August 2017
Yes board can appoint him for signing and execution of sale deed!
RICHA KUMAR
(Expert)
01 August 2017
A normal board resolution is need to pass
Law Aspire
(Querist)
02 August 2017
But this will mean that he is involved in day to day activities of the Company .
Then How he will Continue as Independent Director
Then How he will Continue as Independent Director
RICHA KUMAR
(Expert)
02 August 2017
It is a private company not a subsidiary of a public! So independent director definition as per the act will not be applicable further you can restrict his duties and role by entering into an agreement! For entering into this specific transaction this can be possible.
But if it's a public listed company or a subsidiary of the same, then the act definition is applicable and he cannot enter into day to day activities
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