Dear All,
In a private ltd company, 1 of the 3 directors has not signed the board resolution and the loan agreement which they have applied with an NBFC. All the 3 directors are closely held shareholders as well. The director who has not signed as he is travelling has 60% share and the rest 2 directors have 40% share jointly. We have taken email consent from the director to authorize the other 2 directors to sign and also we have done a recorded call him accepting all the deal terms of the loan. Would this scenario be ok to go ahead.
CAclubindia
