Decisions at a Board /Committee Meeting of the Company, are taken in the form of Resolutions.
These resolutions may be of the following type(s):
Unanimous Resolution-all the persons present and eligible to vote have voted ‘for’ the motion.
Ordinary Resolution- the votes required for such a resolution to pass should be 50% +1 vote for the votes cast against it, by the persons present and eligible to vote.
Special Resolution- the votes required for such a resolution to pass should be three times the votes cast against it, by the persons present and eligible to vote.
Special Resolutions are required only in a General Meeting.
Business of a Board/Committee can also be transacted by Circulation, unless a Meeting of the Board has been specified in the Section pursuant to which the resolution has been proposed.
Our 3 Step Simple Process
Engagement & Consultation
Information Collection & Documentation
Preparation of Draft Resolution
Illustrative List of items of business which shall not be passed by circulation and shall be placed before the Board at its Meeting
Approving financial statements and the Board’s Report and Approving Remuneration of Managing Director, Whole-time Director and Manager.
Borrowing money otherwise than by issue of debentures and Appointmen t or Removal of Key Managerial Personnel.
Investing the funds of the company and Appointment of a person as a Managing Director / Manager in more than one company.
Granting loans or giving guarantee or providing security in respect of loans and In case of a public company, the appointment of Director(s) in casual vacancy subject to the provisions in the Articles of the company.
Making political contributions and According sanction for related party transactions which are not in the ordinary course of business or which are not on arm’s length basis.
Making calls on shareholders in respect of money unpaid on their shares and Sale of subsidiaries.
Documents required for Drafting of Board Resolutions