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Board meeting

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2014 whether board meeting is required to pass before each loan borrowing by the pvt ltd. co.?
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Ankur Garg

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Ankur Garg (Expert)
18 September 2014 It is advisable to pass board resolution in a valid board meeting before taking any loan. This is required by section 179 of the Companies ACt.

If you are taking loan from different party/bank pass separate board resolution.


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