Geetha Gupta (Accountant) (325 Points)
15 October 2015Hi all,
How does sec186 of CA 2013 affect a non-NBFC pvt company whose principal business consists of trading in shares and stocks ? Does such a company need board and shareholders approvals when limits set in the secion are breached?
Regards,
Geetha
Neha Chhapolia
(Chartered Accountant)
(36 Points)
Replied 15 October 2015
Since the specific exemption is given to companies which are engaged in acquisition of securities under section 186 of companies act, 2013. There is no requirement to follow section 186 of companies act, 2013.
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