Board Resolution for Approval of Capital Expenditure

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Document Overview

A Board Resolution for Approval of Capital Expenditure is a formal written record of a decision made by a company’s Board of Directors authorizing the company to spend a significant amount of money on acquiring, upgrading, or maintaining long-term assets. It sets out the details of the expenditure, the purpose for which it is being made, and who is authorized to implement the decision on behalf of the company.

Purpose:
1. Ensures that major financial commitments are approved by the Board before funds are spent.
2. Provides a documented trail showing that the expenditure was duly considered and approved.
3. Helps the company comply with corporate governance requirements under the Companies Act and internal policies.
4. Officially empowers designated officers or directors to execute contracts, negotiate terms, and make payments.
5. Protects the interests of shareholders by ensuring that large investments are made prudently and with Board oversight.

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Board Resolution for Approval of Capital Expenditure

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