Pre incorparation contracts

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soumya gopi kannur

soumya gopi kannur (Querist)
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31 December 2013 how can we ratify pre incorparation contracts?

thanks in advance

Ankur Garg

Ankur Garg (Expert)
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08 January 2014 Simply by passing a board resolution in validly convened board meeting pre incorporation contracts can be ratified.

Thanks

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soumya gopi kannur

soumya gopi kannur (Querist)
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13 January 2014 Sir,
I have also a doubt regarding how the pre incorporation contracts are brought into the minutes and the accounting treatment for the same..?

Ankur Garg

Ankur Garg (Expert)
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13 January 2014 An agreement or any other relevant document containing terms and conditions of pre-incorporation contract may be placed before the board for discussion and approval purpose.

Subsequent to the discussion, board may adopt the said agreement through passing a board resolution.

You can cover all this in the board minutes.

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