372a
This query is : Resolved
SATABDI SEN GUPTA
(Querist)
11 March 2013
A company has given Corporate Guarantee to another co and has passed SR in GM as per Section 372A. Now the co wants to renew the CG in the next year. So does the co need to call a GM again and pass the necessary resolution?
Ajay Mishra
(Expert)
11 March 2013
Hi
Generally General meeting give approval for guarantee/loan/investment up to a limit. If your corporate guarantee is with in the limit (including outstanding guarantee)as passed in General meeting, then no need to pass again SR.
If after giving such guarantee your limit going to be exceeded from earlier limit, then you should pass again SR.
Generally General meeting give approval for guarantee/loan/investment up to a limit. If your corporate guarantee is with in the limit (including outstanding guarantee)as passed in General meeting, then no need to pass again SR.
If after giving such guarantee your limit going to be exceeded from earlier limit, then you should pass again SR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
