Muralidharan (Self Employed) (1034 Points)
22 November 201422nd November 2014
Dear Members
The board of directors of a company at a board meeting have approved resolutions for borrowing loan from a Bank for purchase of vehicles. The borrowing is within the limit approved by the Members. My question in this regard is as follows:
(1) Whether the company has to file MGT-14 with ROC alongwith copy of board resolution within 30 days of board meeting date.
with regards
Muralidharan
Sunaina Jain
(Job)
(92 Points)
Replied 22 November 2014
Yes, the co. needs to file MGT-14 every time it borrows money , within a month of passing board resolution. You can refer Sec 117 (3) (g). You can refer to the file attached.
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