resolution by circulation
This query is : Resolved
06 April 2009
We need to get the board approval for availing facilities with our bank like net banking, phone banking etc. The banks insist on resolution at board meeting. Can we pass these resolutions without a formal board meeting and just by a resolution by circulation?
06 April 2009
If you are enjoying any od or occ facilities from your Banker then the resolution has to be passed in the Board meeting only.
If you are not enojoying any credit facilities and your money is being utilsied like usage of current account then the resolution passed by directors in circulation is enough.
If you are not enojoying any credit facilities and your money is being utilsied like usage of current account then the resolution passed by directors in circulation is enough.
06 April 2009
thank you very much. Can you please give a reference section for the same as I need to communicate with the bankers.
06 April 2009
Section 292 of the companies act deals with matters for which the resoulutions has to be passed in the board.
It is specific.
Therefore the other matters falling out of that section can be passed through circulation.
It is specific.
Therefore the other matters falling out of that section can be passed through circulation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Taxation on LTCG for property sold after 24JUL2024
- STCG on ETF gold & silver
- GST ON DAMAGED GOODS
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Plot of land. Cost of Acquisition
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
