Section 186 of co's act, 2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2019 Dear All,

one of my private companies Loans and Investment made are exceeding the prescribed limit as specified in sec 186(2) i.e. higher of 60% of paid up share capital, security premium and free reserve or 100% of free reserve and security premium. Where the giving of any loan, investments made exceeds the above limit then prior approval by means of special resolution in general meeting is necessary and MGT-14 needs to be filed to ROC. so whether i need to file form MGT-14 for the same or Private company is exempted from it.? please help. do we need to file the same. we have already filed the Annual forms for the financial year 2017-18