16 April 2019
Dear sir, I want to know that what are the steps to be followed by a private limited company if it sells its substancial portion of fixed Assets..
what type of resolution is to be passed and which form we have to file in ROC to intimate such sale...
17 April 2019
But sir ,As per section 180(a) (i.e. special resolution for sale of substantial assets) this is not applicable on private companies ... this is very confusing please explain and what about postal ballot......
18 April 2019
Section 180 is enforced from 12-09-2013. However, the said section is made not applicable to private limited companies through notification GSR 464(E) dated 5-6-2015 meaning thereby board resolution will suffice to sell or dispose......... Again the said amendment is further amended through notification 583(E) dated 13-06-2017 so as to apply only for those private limited companies which has not committed a default in filing financial statements with the Registrar u/s137 or 92 of the Companies Act, 2013.
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