Board resolution

Bhai Saab,

Please note; most of the business activities performed in a public and private company should be approved/accompanied by a board resolution. In board meeting resolutions are passed by simply majority. For example out of total 5 board members, consent of 3 is must to pass the resolution.

Ordinary and special resolutions are not the subject matter of board meetings.

In shareholders meeting resolution are passed as ordinary or special resolutions. For more information about ordinary and special resolutions kindly refer section 189 of the companies Act, 1956.

Need of special resolution is given in law (Like section 100, 81(1A), 21 etc), and where nothing is mentioned in the concerned section, resolution is to be passed as ordinary resolution.

Yes a Private Limited company has to pass Board Resolution in order to avail Unsecured Loan.

I hope the above info would be of some help.