Purchase of property by a company.
This query is : Resolved
24 May 2008
please guide me as to the authority required to pass a resolution to purchase property for the comany.is a general meeting approval essential?? and under which section
24 May 2008
hi,
board of directors can pass resolution at general meeting and can acuire property. approval in general meeting not required
board of directors can pass resolution at general meeting and can acuire property. approval in general meeting not required
24 May 2008
SEC 292 OF COS. ACT GIVES POWER TO BOARD OF DIRECTORS TO INVEST FUNDS OF THE CO.
MOREOVER THE ARTICLES CONTAIN A PROVISION ABOUT POWERS OF DIRECTORS TO PURCHASE PROPERTIES FOR A CO.
SO I DO NOT SEE ANY NEED FOR SHAREHOLDER RESOLUTION.
R.V.RAO
MOREOVER THE ARTICLES CONTAIN A PROVISION ABOUT POWERS OF DIRECTORS TO PURCHASE PROPERTIES FOR A CO.
SO I DO NOT SEE ANY NEED FOR SHAREHOLDER RESOLUTION.
R.V.RAO
S.Srinivasaraghavan
(Expert)
25 May 2008
What exactly you mean by property? Immovable or movable?
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