passing of resolution u/s 293(1)(a)

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(Querist)


23 March 2009

if the public company not listed wants to borrow exceeds the paid up capital and free reserve of the company, is it nescessary to pass the resolution u/s 293(1)(a)of the companies act 1956 related with the sale, dispose and otherwise dispose of the property of the company if the company provided security as a charge by equitable mortgage on the different plants of the comopany situated at different places.

if yes please forward the resolution for same


CS Mukesh Arora (Expert)


26 March 2009

The Company needs to pass the resolution u/s 293(1) (a) to borrow in excess of paid up capital and free reserves and if the company desires to provide security, it has to pass resolution under 293 (1) (d) also. After the same are approved by general meeting, form 23 is to be filed with MCA


CS Mukesh Arora (Expert)


26 March 2009

for resolution, send a mail at manimukesharora@rediffmail.com, I will send you both the resolutions



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