Closing part/division of business
chandranil S Belvlakar
(Querist) 22 October 2009
This query is : Resolved
Dear Experts
If I am closing a part/ division of my business then does I require General Meeting approval ( section 293).
Such division is merely one part of production process
if not then which type of Resolution is required
we are manufacturing company
Raj Kumar Makkad
(Expert) 22 October 2009
If you disclose the nature of your business organization like proprietorship, partnership, Private Ltd company or Public Ltd. Company, then it will be easier for us to reply properly against your quarry.
adv. rajeev ( rajoo )
(Expert) 22 October 2009
Whether ur business is proprietor concern,company or partnership busines.
If proprietory concern no problem. If company resolution is necessary and if partnership decesion of the partners is necessary.
A V Vishal
(Expert) 22 October 2009
Belvlakar
Under the Companies Act,1956 , you are not required to pass any resolution u/s.293. Further, my reply is in presumption that the company is a Public limited company or a private limited company which is a subsidary of a public limited company, in case of a private limited company which is not a subsidary then 293 does not apply.
joyce
(Expert) 22 October 2009
Vishal's suggustion i adopt Mr. C.S. Belvlakar.
