Gargi Ranade (CS) (410 Points)
26 August 2013Dear all,
We are PVT . Ltd. Company and subsidiary of the Japanese Co. , we are willing to invest surplus funds of the Company in Mutual Funds. I undertsnad that being Pvt. Ltd. co. Section 372 A shall not be applicable to us.
Please let me know whether Board Resolution is sufficient for the said Investment . Which are all the other matters which I must consider before going ahead for the said investment.
Regards,
Gargi
Ankit
(CA, CS)
(3064 Points)
Replied 26 August 2013
Dear Gargi,
Since 372A does not apply to you, you can go ahead with the investment by passing a simple board resolution.
The only thing you need to check is that there is no clause in the MoA or AoA restricting the powers of the Board for the investments.
Gargi Ranade
(CS)
(410 Points)
Replied 26 August 2013
Ankit sir,
Thanks a lot for your prompt reply , as a first step I have checked the provisions of the MOA & AOA for the such investment .
There is no restrictive clauses in this regards.
Thanks once again.
CAclubindia
