Chapter: XII
Section: 180(1)(a)
Approximate Time Saving: 1 hour , 30 minutes
This document consist of draft Shareholder Resolution, to authorize the Board of Directors of the Company to create hypothecation or charge against the assets of the Company, along with Explanatory Statement in editable word format making it handy for you to use and save your time and efforts
Section 180(1)(a)
(1) The Board of Directors of a company shall exercise the following powers only with the consent of the company by a special resolution, namely:—
(a) to sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where the company owns more than one undertaking, of the whole or substantially the whole of any of such undertakings.
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