In a company Director wants to purchase a commercial vehicle (such as Pick up)for the business operations of the company. It does not require any finance from the financing org. then whether the company is require to pass any resolution in the meeting to get into this trandaction.
IT IS REFERABLE AND SAFER TO PASS A BOARD RESOLUTION TO THE EFFECT OF PURCHASE OF COMMERCIAL VEHICLE SO AS TO AVOID ANY MISGIVINGS IN THE TRANSACTION DONE BY A DIRECTOR ON HIS OWN
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