A Corporate Resolution To Sell Property is a crucial document required under Indian corporate law when a company intends to sell its real estate assets. This resolution is mandated by the Companies Act 2013 and must comply with various Indian property laws and regulations. It's typically used when a company decides to dispose of real estate assets, whether for business restructuring, asset monetization, or strategic purposes. The document captures the board's approval of the sale, includes specific details about the property, transaction terms, and authorized signatories. It serves multiple purposes: providing clear corporate authorization, meeting statutory requirements, facilitating property registration, and protecting both the company's and buyers' interests. The resolution becomes particularly important for significant property transactions that may require additional shareholder approval under Section 180 of the Companies Act.
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1. Title and Date: Specifies the type of resolution and date of the board meeting
2. Attendance and Quorum: Lists directors present and confirms meeting quorum requirements are met
3. Chairman: Identifies the chairman of the meeting
4. Background: Provides context about the property and reason for sale
5. Property Details: Complete description of the property being sold including location, dimensions, and title details
6. Transaction Details: Specifics of the proposed sale including price and key terms
7. Board Deliberation: Summary of the board's discussion and consideration of the sale
8. Resolution: The formal resolution text authorizing the sale and specifying powers
9. Authorization: Names and powers of authorized signatories for executing sale documents
10. Certification: Company Secretary's certification of the resolution
1. Shareholders' Approval Reference: Required if the transaction needs shareholder approval under Section 180 of Companies Act
2. Valuation Report Reference: Include when property valuation has been conducted by registered valuer
3. Related Party Disclosure: Required if the transaction involves related parties under Companies Act
4. Foreign Exchange Compliance: Include if transaction involves foreign parties or FEMA compliance
5. Mortgage/Encumbrance Details: Include if property has existing mortgages or encumbrances
1. Property Description Schedule: Detailed legal description of the property including boundaries and measurements
2. Title Documents List: List of all title documents and property papers
3. Valuation Report Summary: Summary of property valuation if conducted
4. Board Meeting Notice: Copy of the notice issued for the board meeting
5. Directors' Attendance Record: Detailed record of directors' attendance and voting
6. Power of Attorney: If specific power of attorney is being granted for the transaction
Relevant legal definitions
Board
Company
Property
Sale Deed
Authorized Representatives
Articles of Association
Memorandum of Association
Companies Act
Transfer Deed
Purchase Consideration
Purchaser
Registrar
Sub-Registrar
Title Deeds
Encumbrances
Stamp Duty
Registration Fees
Valuation Report
Related Party
Material Transaction
Board Resolution
Property Documents
Sale Agreement
Applicable Laws
Business Day
Completion Date
Due Diligence
Governmental Authority
Permitted Encumbrances
Property Tax
Transfer Date
Company
Property
Sale Deed
Authorized Representatives
Articles of Association
Memorandum of Association
Companies Act
Transfer Deed
Purchase Consideration
Purchaser
Registrar
Sub-Registrar
Title Deeds
Encumbrances
Stamp Duty
Registration Fees
Valuation Report
Related Party
Material Transaction
Board Resolution
Property Documents
Sale Agreement
Applicable Laws
Business Day
Completion Date
Due Diligence
Governmental Authority
Permitted Encumbrances
Property Tax
Transfer Date
Clauses
Corporate Authority
Property Description
Transaction Authorization
Consideration
Execution Authority
Compliance
Registration and Stamp Duty
Document Execution
Encumbrance Declaration
Title Verification
Authorized Signatories
Statutory Compliance
Board Approval
Property Valuation
Related Party Disclosure
Powers Granted
Documentation Authority
Legal Compliance
Property Transfer
Financial Terms
Property Description
Transaction Authorization
Consideration
Execution Authority
Compliance
Registration and Stamp Duty
Document Execution
Encumbrance Declaration
Title Verification
Authorized Signatories
Statutory Compliance
Board Approval
Property Valuation
Related Party Disclosure
Powers Granted
Documentation Authority
Legal Compliance
Property Transfer
Financial Terms
Relevant Industries
Real Estate
Manufacturing
Information Technology
Retail
Healthcare
Hospitality
Financial Services
Industrial
Education
Logistics
Construction
Infrastructure
Relevant Teams
Legal
Corporate Secretarial
Finance
Compliance
Real Estate
Corporate Affairs
Risk Management
Facilities Management
Board Secretariat
Property Management
Relevant Roles
Chief Executive Officer
Company Secretary
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Real Estate Manager
Property Manager
Board Director
Managing Director
Compliance Officer
Risk Manager
Asset Manager
Facilities Manager
Corporate Affairs Manager
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