PQR Company give its assent to give guarantee to ABZ Company on taking of loan from financial institution. According to Co Act, 2013, said act should be approved by Board of Directors. State mode of approval adopted by board of directors of PQR company: –
Board shall give approval for giving guarantee on loan by simple majority
Board shall give approval by passing circular resolution.
Board shall give approval by passing resolution through special majority
Board shall give unanimous approval.