Donation limit
This query is : Resolved
06 February 2010
Sir
Donations exceeded last year as per section 293 1 e of the companies act.Roc qurried the same . Is there any remedy to over come this issue? Please help.
Donations exceeded last year as per section 293 1 e of the companies act.Roc qurried the same . Is there any remedy to over come this issue? Please help.
07 February 2010
As in 293 of the companies act, talks about the restriction on board powers.
According to sec 293 of the companies act, the board of directors can not contribute more than Rs. 50,000 or 5% of the avg profits as determined according to sec 349 or 350. Sec 293 does not apply to pvt company unless it is subsy of public co.
As i m able to get ur question, the company has exceeded the limit of donations as specified in sec 293. In that case, u can call upon the General meeting to ratify the decision of BOD if not called till now.
In dat meeting the shareholders should b dere n also met the quorum of the meeting
According to sec 293 of the companies act, the board of directors can not contribute more than Rs. 50,000 or 5% of the avg profits as determined according to sec 349 or 350. Sec 293 does not apply to pvt company unless it is subsy of public co.
As i m able to get ur question, the company has exceeded the limit of donations as specified in sec 293. In that case, u can call upon the General meeting to ratify the decision of BOD if not called till now.
In dat meeting the shareholders should b dere n also met the quorum of the meeting
Message likes :
2 times
08 February 2010
08 February 2010
08 February 2010
Sir
The accounts pertaing to the exceeded donation already passed in agm.Shall we call now the EOGM to ratify the decision of BOD?
Sir
The accounts pertaing to the exceeded donation already passed in agm.Shall we call now the EOGM to ratify the decision of BOD?
14 February 2010
Mr. Raghupathy
The law says for convening the General Meeting and geeting the consent. Since u already did it in AGM..then d law is followed.
Give more details of the ROC Query so that we can understand more like..what the query says abt, which violation, regarding money proffs...anything.
It will help us to clarify ur query.
The law says for convening the General Meeting and geeting the consent. Since u already did it in AGM..then d law is followed.
Give more details of the ROC Query so that we can understand more like..what the query says abt, which violation, regarding money proffs...anything.
It will help us to clarify ur query.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
CAclubindia
