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Shyam Gupta (Business)     16 December 2009

company resolution retrospective effect

I Have a querry. I am enclosing a draft resolution. please let me know whether a resolution can have retrospective effect.

a Resolution passed at a committe meeting on 24.4.2009

" resolved that in partial modification of earlier resolution passed on october 8, 2008, the following officials are hereby granted an extension of authority with effect from 1/4/2009 to 31/3/2010."

My question is can a resolution have retrospective effect.

Furthermore can a resolution of this nature be used to correct an act done prior to 24.4.2009 i.e. on 21.4.2009 especially when the resolution dated October 8 2008 , ended the authority on 31.3.2009.

 



Learning

 3 Replies

Prodyut Banerjee (Advocate (Corporate Lawyer))     16 December 2009

As per my understanding such resolution is valid provided the committee has full authority for such delegation and the earlier reslution was passed by the same committee. The act of 21.04.2009 wil be valid as the resoluition grants a post-facto approval of the same.

However this is not the ideal way of doing.

1 Like

Dayanandan P T (Service)     17 December 2009

"a Resolution passed at a committe meeting on 24.4.2009

" resolved that in partial modification of earlier resolution passed on october 8, 2008, the following officials are hereby granted an extension of authority with effect from 1/4/2009 to 31/3/2010."

My question is can a resolution have retrospective effect.

Furthermore can a resolution of this nature be used to correct an act done prior to 24.4.2009 i.e. on 21.4.2009 especially when the resolution dated October 8 2008 , ended the authority on 31.3.2009."

 A resolution can be retrospective effect.  But approval of certain acts shall be specific after it is done, in such case(s), those acts, deeds, things shall be ratified specifically by the authority.

I do endorse the views of earlier reply.,

 

regards,

1 Like

Ram K (Manager)     30 December 2009

i can agree the comments of Mr.dayanand , initially we have to check whether there is any validation period has been specified in the earlier resolution passed on 8.10.08, 2nd this partial is only for the purpose of changing the authorised signatory 3rd at the time of changing the authorised signatory in retrospective basis you should ensure that the concern official should service on that date.

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