Board meeting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2014
whether board meeting is required to pass before each loan borrowing by the pvt ltd. co.?
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.
Thanks
If you are taking loan from different party/bank pass separate board resolution.
Thanks
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