Is there a need to pass board resolution for renewal of lease agreement which originally was approved by board resolution.
Is there a need to pass board resolution for renewal of lease agreement which originally was approved by board resolution.
resolution should be put forth for renewal of Lease, as sanctioning the lease for a period is one thing and renewal of the same is different matter. Until and unless, its clearly mentioned that lease would be renewed for 5 years or whatever time, the resolution need to be passed, otherwise not.
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