A Board Resolution For Sale of Car is a crucial corporate document required under Indian law when a company intends to sell its vehicle assets. This document is mandatory under the Companies Act, 2013, serving as official evidence that the board of directors has approved the sale transaction. It's typically used when disposing of company vehicles, fleet reorganization, or asset liquidation. The resolution must contain specific details about the vehicle, authorized personnel for executing the sale, and transaction terms. It protects the company's interests by ensuring proper corporate governance procedures are followed and provides necessary authorization for the transaction. This document is particularly important for audit trails, regulatory compliance, and corporate record-keeping in India.
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1. Title and Date: Title of the resolution and date of the board meeting
2. Company Details: Full legal name and registered address of the company
3. Meeting Details: Venue, time, and details of directors present at the meeting
4. Chairman: Name of the person chairing the meeting
5. Context: Brief background explaining the reason for selling the vehicle
6. Resolution Text: The main resolution text authorizing the sale of the vehicle
7. Authorization: Specific powers granted to designated personnel to execute the sale
8. Vehicle Details: Specific details of the vehicle being sold including make, model, registration number, and year
9. Sale Terms: Basic terms of the sale including the agreed price
10. Execution: Signature section for the Chairman/Company Secretary and date
1. Quorum Confirmation: Specific mention of meeting quorum being met - needed when required by company articles
2. Previous Resolution Reference: Reference to any previous board resolutions relevant to this sale - include if there are related past decisions
3. Valuation Details: Information about vehicle valuation - include when required for compliance or audit purposes
4. Tax Implications: Specific mention of tax considerations - include when there are significant tax implications
5. Special Conditions: Any special conditions attached to the sale - include when there are specific terms beyond standard sale
6. Broker Authorization: Authorization for using a broker or dealer - include when third party is involved in sale
1. Schedule A - Vehicle Specifications: Detailed technical specifications and condition report of the vehicle
2. Schedule B - Valuation Report: Professional valuation report of the vehicle if obtained
3. Schedule C - Vehicle Documents: List of all vehicle-related documents being transferred
4. Appendix 1 - Photos: Recent photographs of the vehicle documenting its condition
5. Appendix 2 - Maintenance Records: History of vehicle maintenance and repairs
Relevant legal definitions
Clauses
Relevant Industries
Corporate Services
Automotive
Transportation
Fleet Management
Business Services
Administrative Services
Legal Services
Corporate Governance
Asset Management
Relevant Teams
Legal
Finance
Administration
Operations
Compliance
Corporate Secretarial
Asset Management
Fleet Management
Corporate Governance
Relevant Roles
Board Director
Company Secretary
Chief Financial Officer
Fleet Manager
Administrative Manager
Legal Counsel
Compliance Officer
Corporate Governance Officer
Asset Manager
Operations Manager
Finance Director
Managing Director
Executive Director
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