hi, can anyone tell me that is it necessary for the board of directors to pass a resolution for sale of an asset? if yes, then please let me know the provisions where it is mentioned to do so.
Regards,
Varad
varad (Working) (229 Points)
13 September 2011hi, can anyone tell me that is it necessary for the board of directors to pass a resolution for sale of an asset? if yes, then please let me know the provisions where it is mentioned to do so.
Regards,
Varad
valji
(Accounts manager-MBA)
(2150 Points)
Replied 13 September 2011
if asset has materail value then yes
DS Mahajani
(1)
(242 Points)
Replied 13 September 2011
varad
(Working)
(229 Points)
Replied 13 September 2011
thanks a lot valji and ds for your answers, but my question is that does board resolution needs to be passed for selling an asset or not?
DS Mahajani
(1)
(242 Points)
Replied 13 September 2011
This has been answered.
In the first case (i.e.293(1), obviously Board Resn is must and and for the second case [i.e.293 (2) (b)], Board Resn is not required.
Hope this clarifies.
Reagrds
DS
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