Pankaj jhunjhunwala (CA) (97 Points)
17 May 2014I HAVED DELEGATED POWER TO BORROW MONEY TO M.D ON 08.05.2014 FOR TAKING LOAN FROM OTHERS UNDER 179(3) OF COMAPNY ACT.2013
MY QUERY IS THAT
WHEATHER EVERY TIME SEPARATE RESOLUTION REQUIRED FOR EACH BORROWING BY M.D ON BEHALF OF COMPANY THROUGH OUT THE PERIOD.IF REQUIRED ,THEN EACH BR TO BE FILED WITH ROC UNDER 117
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 17 May 2014
Yes, you are right.
Desai
(CS)
(329 Points)
Replied 05 June 2014
Sir,
1) whether sanctioning of credit facilities and renewal of crecit facilities from bank comes under borrwoing.(Section 179(3)
2) do we need to file resolution with roc for sanctioning/renewal of credit facilities from bank ?
pls.suggest
CAclubindia
