Rent Resolution
This query is : Open
20 May 2011
Following is the case -
If two group companies (Pvt Ltd Co) are using the same premises as its registered office and one company is paying rent to another, then what are compliances to be done by both the companies??
Can they pass a Board Resolution?? do we have renew it every year?? Can we pass resolution for 15 years at a time?? how??
Can we include this in the Sale - Purchase Agreement? will this trigger S. 297??
If two group companies (Pvt Ltd Co) are using the same premises as its registered office and one company is paying rent to another, then what are compliances to be done by both the companies??
Can they pass a Board Resolution?? do we have renew it every year?? Can we pass resolution for 15 years at a time?? how??
Can we include this in the Sale - Purchase Agreement? will this trigger S. 297??
20 May 2011
in your situation I advice you to prepare agreement mentioning the main company can let-out same property to group companies or holding companies.
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