Bank requires spl resolution under section 180 of Co Act.
While Capital reserve is excluded,
Security premium. Gen reserve are included
What about retained earnings, Foreign currency translation Reserve?
2 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(7082 Points)
Replied 01 April 2025
Jayanta Bandyopadhyay
(362 Points)
Replied 01 April 2025
Thanks, sir
Bank simply asks Certificate under section 180(1), 180 [1](c) besides CA Certificate wrt Section 281[ who can ensure no outstanding Tax in today's Litigation regime]
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