YOGESH (assi. company secretary) (477 Points)
22 October 2013A Company has passed a resolution to invest in mutual fund u/s 372A for Rs.2 crore. now the company has invested whole 2 crore in MF, now the company has received Rs. 20 lakh dividend on this MF and the same is re-invested by the company. so my query is that the company violating the section by investing Rs. 2.20 Crore where the resolution is passed for only Rs. 2 crore.
Thanks
CS BHAVIN SHETH
(MANAGER-Company Secretary)
(131 Points)
Replied 23 October 2013
As far as my limited knowledge is concern, a new resolution, defining the new limit neeed to pass
regards
YOGESH
(assi. company secretary)
(477 Points)
Replied 24 October 2013
Thank you Bhavin sir for replying, i have also decided the same.
CAclubindia
