Sir,
Whether Investment made by the Company in the fixed Deposits of the Banks is coming under section 179(3)(e).Is resolution to be filed with ROC in MGT -14?
Thanks
SREENATH P. (Company secretary) (208 Points)
24 July 2015Sir,
Whether Investment made by the Company in the fixed Deposits of the Banks is coming under section 179(3)(e).Is resolution to be filed with ROC in MGT -14?
Thanks
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 27 July 2015
General view is that here 'investment' means investment in securities. Fixed deposit being a type of deposit account with Bank, is not treated as investment for this purpose.
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