Easy Office
LCI Learning

Borrowing power u/s 180 (1) (c)

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 November 2017 Query :

A Director of a small pvt company introduced a machinery amounting to 10 lacs where the net worth of the company is not more than 3 lacs. whether special resolution for increase in borrowing power should passed in the agm?
Profile Image

CS Mitesh Mehta

Profile Image

CS Mitesh Mehta (Expert)
03 November 2017 Section 180 is not applicable to Private Company
Profile Image

Charu Srivastava

Profile Image

Charu Srivastava (Expert)
03 November 2017 The MCA vide its notification dated 5-6-2015 have exempted section 180 for the private company.
Upgrade to CAclubindia Pro. Subscribe Now!

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 November 2017 thanks you very much for the quick reply

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links