Pvt Ltd Company entering in another association of persons

Pvt ltd 1064 views 2 replies


 Actually I am a customer of  private Limited company, an association of persons formed by 9 individual private limited companies and 4 individual persons-total 13.
The private limited company have legally acquired constructed and selling flats in a housing complex.
 My housing loan bank is asking for individual copy of resolution which must be taken by each of these 9 pvt ltd companies in order to be a part of another association of persons
  My question is-
    1. Is this absolutely necessary to have a resolution taken by the board for a private limited company to enter into another association of persons?
    2. If they produce- association of persons certificate, memorandum of understanding. will these two be sufficient proof that the association of persons formed by those 9 pvt ltd companies and 4 individual persons are legally valid and viable?

Replies (2)

Hello,

Anybody please guide me about  the answer.

Thanks

Board resolution would be required because the Company can take such an action only after being authorised to do so.


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