Company law and sale of property law

anup kumar (Querist) 27 October 2012 This query is : Resolved
A Pvt company (having 2 directors Mr A & Mrs R) has sold a property to another pvt co.The property is sold represented by director A and resolution was approved by Director R," MR A IS AUTHORISED TO NEGOTIATE FOR SALE THE PROPERTY OF COMPANY AND SETTLE THE BANK LOAN" the above property was sold after getting the payment from buyer and settlement of loan from sale proceed.

Later a suit was filed by R that A was not authorised for sale he was just authorised for negotiate for sale,

What is the validity of transactions?

Whether the suit is maintainable in civil court instead of CLB?

What should be done by buyer co?

Follow Query

Report Abuse

Devajyoti Barman (Expert) 28 October 2012
The case is based on fined points of words which I do not think to be of much implications. The does would not lie on merit though the same is maintainable..

Shailesh Kr. Shah (Expert) 29 October 2012
Please answer following questions to get reply:-
1.What is exactly language of resolution?
2.What is the main objects of the company?
3.Is in sale deed, resolution details are mentioned?