sec 67(2)
vinay kumar (178 Points)
03 March 2018
is there or history behind existence of section 67(2)?
3 Replies
Chirag
(Professional)
(1979 Points)
Replied 03 March 2018
I don't know about history but public companies are prohibited to do the foul playing with investors ,Suppose company Provide any loan/guarantee or security on loan taken by any person to purchase its own shares & if he defaults it will directly impact the shareholders capital ,As company don't get anything in this Txn no new capital while its own funds revolved to raise fund
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