04 October 2012
Is it necessary for a public company to pass resolution before making contribution to a political party as per section 293A of The Companies Act, 1956?...
04 October 2012
No contribution to a political party shall be made by a company unless a resolution authorising making of such contribution is passed at a meeting of the Board of Directors and such resolution shall be deemed to be justification in law for the making and acceptance of the contribution authorised by it.
Therefore, for every political contribution Board Resolution is required to be passed.
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