Vaibhav Shukla
(Company Secretary)
(142 Points)
Replied 03 June 2011
Hiii,
Yes, Section 292 of the Companies Act 1956 is required to be complied with even in the case of Pvt. Ltd. Company i.e. a Resolution is required to be passed at the Board meeting for investing the funds of the company.
as far as section 372A is concerned it is not applicable to Pvt. Ltd. company unless it is a subsidiary of a Public limited Company.
Arjun
(trainee)
(30 Points)
Replied 04 June 2011
Rajnikant Vadigoppula
(CA, CS And CMA Final)
(919 Points)
Replied 04 June 2011
if it is trading in shares then no need to pass resolution it will be treated as current investments just like stock in trade.
if it is purchased for for retaining more than 3 months then it will be treated as long term investments and they have to comply with sec 292 and pass resolution before investing
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