Dear Sir,
In 2024, a private limited company granted a loan to one of its directors. At that time, the company had a total of 5 directors. The Board Resolution (BR) authorizing the loan was signed by 4 directors, while one director was out of India.
In 2025, the company again granted a loan to a director. At that time, the company had 3 directors, and the BR was signed by 2 directors.
Would the Board Resolutions in both cases be considered valid?
CAclubindia
