Dear Experts.
What are the procedures to be followed for Investment in Mutual Funds by a Private Limited Company under Companies act 2013.
If resolution required , provide a sample resolution.
Thanks in Advance.
Pramod.
Pramod Pillai (Advocate) (78 Points)
25 June 2015Dear Experts.
What are the procedures to be followed for Investment in Mutual Funds by a Private Limited Company under Companies act 2013.
If resolution required , provide a sample resolution.
Thanks in Advance.
Pramod.
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 25 June 2015
Hi,
Certainly it requires board approval for investment thru a resolution in place.
“RESOLVED THAT pursuant to Section 292 (1) (d), Section 372A and other applicable provisions, if any, of the Companies Act, 1956, consent of the Board be and is hereby given for subscribing shares of ABC Pvt Ltd up to a sum of Rs. ---- crores.”
“RESOLVED FURTHER THAT Mr. X, & Mr. Y Directors be and are hereby severally authorized to do all such acts, deeds and things as may be necessary for giving effect to the above resolution.”
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 25 June 2015
Checkout this link
/forum/sample-board-resolution-for-making-investment-119185.asp
Pramod Pillai
(Advocate)
(78 Points)
Replied 02 July 2015
Thanks Mr.Suri Kota,
Section and act mentioned is CA 1956 .........What will be the corresponding sections of CA 2013.
Thanks in Advance..
CAclubindia
