Chapter: XII
Section: 188(1)(b)
Rule: The Companies (Meeting of Board and its Powers) Rules, 2014
Approximate Time Saving: 2 hours
This document consists of draft Shareholder Resolution along with Explanatory Statement to consider and approve the Related Party Transaction for creation of mortgage on the assets of the company against the credit facility obtained / to be obtained by related parties, in editable word format, making it handy to use and save your time and effort.
Section 188(1) Except with the consent of the Board of Directors given by a resolution at a meeting of the Board and subject to such conditions as may be prescribed, no company shall enter into any contract or arrangement with a related party with respect to—
(b) selling or otherwise disposing of, or buying, property of any kind;
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