TRANSFER OF ASSETS BY PVT. LTD. COMPANY

Dinesh Malik (Querist) 06 April 2010 This query is : Resolved
The Board of Directors of a private limited Company want to sell a part of property of the Company registered in the name of the Company. Kindly suggest can they do that by only passing a board meeting resolution or shareholder resolution is required.

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B K Raghavendra Rao (Expert) 06 April 2010
For a private limited company it is sufficient if a board resolution is passed for selling a part of the company's property.

Raj Kumar Makkad (Expert) 06 April 2010
Board of Directors simple resolution is sufficient if no capital value of the company is going to be effected by the proposed sale.

O. Mahalakshmi (Expert) 12 April 2010
Board of Directors resolution is enough to sell a part of the company property.

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