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Borrowings- 180(1)(c) of companies act, 2013

Rahul Gupta (Accountant) (68 Points)

20 September 2019

We taken 20 Lakh Over Draft from bank. Can we pass special resolution under section 180(C)

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5 Replies

ajay rajput (student) (3 Points)
Replied 20 September 2019

No its a temporary loan obtained from a companies banker in the normal course of business

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Nikeeta Bahar (43 Points)
Replied 23 September 2019

First thing
S-180 is NOT applicable for Private Company.. so if your Co. us Pvt. no need to worry.

Second..
in case otherwise,
- Temporary Loans, Over drafts in Ordinarycourse are NOT Attracted here
-If The Term of Loan Is Under 6 Months then Also Not Borrowing...

1 Like

Rahul Gupta (Accountant) (68 Points)
Replied 23 September 2019

Dear Ma'am,

Please let me know we taken Over Draft from Bank ..So which column we put amount in DPT-3 form.

Nikeeta Bahar (43 Points)
Replied 23 September 2019

In Clause/Point 9 of DPT-3.

Rahul Gupta (Accountant) (68 Points)
Replied 06 November 2019

Our company taken 20 Lakh Overdraft and Purchase car from BMW (Loan Amount 32 Lakh)

My question is can we pass special regulations for MGT-14 for (Consent of a company authorizing its board of directors any power mentioned in S 180 (1)(a) and (c).)

Regards

Rahul