Dear All,
A Pvt. Co. had secured members approval vide a sp. resolution at an EGM for shifting of reg. off.from one state to another. Now the management and the Board are of the view that they do nt want to go ahead with the business.
What are the legal requirements and implications of the above. Is the withdrawal of the special resolution possible.
Regards
The Authority who has approved or passed a resolution is free to withdraw it if the decision is not irreversible in law, as it is in some cases particularly for listed companies.
Hi Randhir,
Your reply was helpful.
It would be grateful, if you can also cite provision of Companies Act in respect of such withdrawl or withdrawl of any special resolution.
Regards,
Chintan
Abic and Mani Chartered Accountants
Kottayam
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