Common use of Resolution by Circulation Clause in Contracts

Resolution by Circulation. Subject to the provisions of the Act, resolutions of the Board may be passed by circulation, if the resolution has been circulated in draft, together with necessary papers, if any, to all the Directors, then in India or outside India, and has been signed by a majority of the Directors, provided that in respect of matters contained in Clause 6.4 hereof, the resolution should be signed by at least one Essar Director and one CGP Director. Such resolutions may be signed by the Directors as single documents or in counterparts.

Resolution by Circulation. Subject to the provisions of the Act, resolutions of the Board may be passed by circulation, if the resolution has been circulated in draft, together with necessary papers, if any, to all the Directors, then in India or outside India, and has been signed by a majority of the Directors, provided that in respect of matters contained in Clause 6.4 hereof, the resolution should be signed by at least one Essar TCL Director, one Indusind Director and one CGP the KMFL Director. Such resolutions may be signed by the Directors as single documents or in counterparts.