30 January 2015
Company A has obtained OD of Rs. 1 crore u/s 293 of Companies Act 1956 where as its authorised capital is Rs 10 lacs. In the month of january company renew its OD limit. In January 2015 company renew its OD without any change in its limit. Whether the company has to pass any special resolution for such renewal u/s 180 of Companies Act 2013 ??? Does it has to file MGT 14 with ROC???
30 January 2015
As per my opinion Renewal of OD Limit is not covered by Section 180(1)(c) and you are not required to pass any special resolution and also not required to file MGT-14.
I am not sure 100% Plz take opinion of others also ??????
CAclubindia
