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Rescission of board resolution

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(Querist)
24 June 2009 Can we rescind a resolution passed in a Board Meeting?
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Ankur Garg

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Ankur Garg (Expert)
24 June 2009 Hi,

Yes you can rescind a resolution passed in a Board Meeting.

As decided in Cawley & Co. in re. (1889) a resolution can be rescinded or varied already recorded and signed in the minute book by passing a fresh resolution modifying the earlier resolution.

The earlier resolution becomes ineffective and is rescinded from the date of passing the new resolution.

Regards
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Ankur Garg

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Ankur Garg (Expert)
24 June 2009 Also remember one thing that the company would be liable to third parties for anything done in pursuance of the earlier resolution during its currency.

Regards
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
24 June 2009 completely agree with Ankur
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