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The Central Board of Indirect Taxes and Customs (CBIC), formerly the Central Board of Excise and Customs, is a statutory body under the Department of Revenue, Government of India. It oversees the administration of indirect taxes , including customs duties, excise duties, and the Goods and Services Tax (GST).
A corporate resolution is a document issued by a board of directors, outlining a binding corporate action. [ 1 ] Resolutions may authorize routine transactions such as opening corporate accounts, or adopting a fictitious business name . [ 2 ]
A Special Resolution can be tabled at a Director's Meeting. The Ordinary Resolution requires the endorsement by a majority vote, sometimes easily met by partners' vote. The Special Resolution requires a 60, 70 or 80% of the vote as stipulated by the constitution of the company. Shareholders other than partners may vote.
The Single Resolution Board is directly responsible for the resolution of significant banks under ECB supervision, as well as other cross border groups, while national authorities will take the lead in smaller banks. [9] Like the SSM, the SRM Regulation will cover all banks in the eurozone, with other states eligible to join. [9]
A special resolution by comparison requires a greater vote threshold, which varies in different jurisdictions. An ordinary resolution is the most common method by which a corporate entity conducts its business or the board of directors seeks shareholder approval of its actions.
In some constitutional monarchies and parliamentary republics, an order by the head of state (monarch or president respectively) is not valid unless countersigned by another authorized relevant person such as the head of government, a responsible minister or, in the case of promulgation of a parliamentary resolution, the parliamentary speaker ...