Resolution to be passed for inter corporate invt beyond 60%

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2014 Dear sir/mam,

As per sec 186 share holders approval by way of special resolution is mandatory but Board Resolution is also required to be passed for same purpose as per sec 179 of Companies Act,2013..

Ankur Garg

Ankur Garg (Expert)
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05 September 2014 Yes you opinion is right.

First you have to pass board resolution for taking in-principle approval of board for inter-corporate investment beyond 60%.

In that BM also pass a resolution calling EGM.

Thanks

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