Authorization to indepedent director for day to day activity
This query is : Open
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?
01 August 2017
Yes board can appoint him for signing and execution of sale deed!
01 August 2017
A normal board resolution is need to pass
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
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- ASMT-10 received from A O
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- ITR-3 File/Error Found
- Banking Related Issue
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
