resolutions
This query is : Resolved
12 July 2009
What are the resolutions required to be passed at the Board meeting only i.e. can not be passed through circulation.
12 July 2009
Section 292 of the companies act deals with certain powers to be exercised by Board only at the Board meeting
(a) to make calls on shares
(b) to borrow money otherwise than on deb.
(c) to invest funds of the company
(d) to make loans.
(a) to make calls on shares
(b) to borrow money otherwise than on deb.
(c) to invest funds of the company
(d) to make loans.
13 July 2009
Hello Manmohan,
Find desired information:
Matters which require sanction at Board Meetings, and not by circulation
There are certain matters in reference to which the provisions of the act would require a resolution at an actual Board Meeting and not one by circulation. They are as follows:
S. No. Provision/Section Matter
1. Section-262 Filling a casual vacancy in the Board
2. Section-292 The power to:
(i) make calls on shareholders;
(ii) issue debentures;
(iii) borrow moneys otherwise than on debentures;
(iv) invest the company’s funds;
(v) make loans;
3. Section-297 Board’s sanction for certain contracts in which particular directors are interested;
4. Section-299 Disclosure to the Board of a director’s interest in a transaction of the company;
5. Section-308 Disclosure to the Board of a director’s shareholding
6. Section-316 & 386 Approval to the appointment of a person as Managing Director or manager in more than one company;
7. Section-372A Sanction for inter-corporate loan, investment or giving of guarantees or providing security.
Regards
Find desired information:
Matters which require sanction at Board Meetings, and not by circulation
There are certain matters in reference to which the provisions of the act would require a resolution at an actual Board Meeting and not one by circulation. They are as follows:
S. No. Provision/Section Matter
1. Section-262 Filling a casual vacancy in the Board
2. Section-292 The power to:
(i) make calls on shareholders;
(ii) issue debentures;
(iii) borrow moneys otherwise than on debentures;
(iv) invest the company’s funds;
(v) make loans;
3. Section-297 Board’s sanction for certain contracts in which particular directors are interested;
4. Section-299 Disclosure to the Board of a director’s interest in a transaction of the company;
5. Section-308 Disclosure to the Board of a director’s shareholding
6. Section-316 & 386 Approval to the appointment of a person as Managing Director or manager in more than one company;
7. Section-372A Sanction for inter-corporate loan, investment or giving of guarantees or providing security.
Regards
13 July 2009
You may also visit my article regarding resolution by circulation at the following link:
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=2083&article_title=Passing%20of%20Board%20resolution%20by%20circulation%20under%20Section%20289
Regards
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=2083&article_title=Passing%20of%20Board%20resolution%20by%20circulation%20under%20Section%20289
Regards
13 July 2009
Thanks
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