Authorization to indepedent director for day to day activity

This query is : Open

Law Aspire (Querist)
Follow

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?

RICHA KUMAR

RICHA KUMAR (Expert)
Follow

01 August 2017 Yes board can appoint him for signing and execution of sale deed!

RICHA KUMAR

RICHA KUMAR (Expert)
Follow

01 August 2017 A normal board resolution is need to pass

Law Aspire

Law Aspire (Querist)
Follow

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

RICHA KUMAR

RICHA KUMAR (Expert)
Follow

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anurag Sharma

PRAVIN S PANISHETTI

Saumil Kapadia

S J MITRA

RATI MALU

Subscribe Now

Authorization to indepedent director for day to day activity

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA