Resolution for Disposal of Assets

[vishwanath shetty]

Hello Sir / Madam,

When the Company changes its registered office from one place to another within same ROC jurisdiction and disposes off all of the assets and leasehold improvements lying at the old office as scrap and purchases as new assets for its new office whether shareholders approval is required. Whether oridinary resolution is to passed or special resolution.

Regards,

Sapna Shetty

[DR.MARIAPPAN GOVINDARAJAN]

In my view no resolution of shareholders is required.

[vishwanath shetty]

Hello Sir,

Thanks for the reply.

AI Summary

Shareholder approval not required for intra-jurisdictional office relocation with asset disposal and new asset acquisitions. No shareholders' resolution is necessary where a company shifts its registered office within the same ROC jurisdiction and disposes of assets and leasehold improvements at the old premises as scrap while purchasing replacement assets for the new office; neither an ordinary nor a special resolution is required for the described asset disposal and replacement in such intra-jurisdictional relocations.