Board meeting

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2014 whether board meeting is required to pass before each loan borrowing by the pvt ltd. co.?

Ankur Garg

Ankur Garg (Expert)
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18 September 2014 It is advisable to pass board resolution in a valid board meeting before taking any loan. This is required by section 179 of the Companies ACt.

If you are taking loan from different party/bank pass separate board resolution.

Thanks

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