Section 65 in The Rajasthan Financial Corporation General Regulations, 2002
65. Resolution without Meeting Valid.
- (i) A resolution in writing circulated to all the Directors at their usual address in India and approved and signed by a simple majority of the Directors/members, on the Board of the Corporation or where the matter concerns the Executive Committee or any other Committee appointed by the Corporation, who are then in India, one of whom shall be the Chairman of the Board or the Executive Committee or other Committee as the case may be or the Managing Director shall be valid and effectual and shall be deemed to be the resolution passed by the Board, the Executive Committee or other Committee, as the case may be. The resolution shall be deemed to have been passed on the date on which it is concurred and signed by the last signatory to the resolution. Such resolution shall be circulated by the Managing Director or any Director or any officer of the Corporation duly authorised by the Board:Provided that any resolution passed as aforesaid shall be placed before the next meeting of the Board, Executive Committee or other Committee, as the case may be, for confirmation and or modifications, if any:Provided further that, if any dissenting Directors or members, in writing requires, that any resolution so passed, shall be placed before a meeting of the Board, Executive Committee or other Committee, as the case may be, the resolution shall not be deemed to be valid any effectual, as aforesaid unless the resolution is passed at such meeting.
