Diference between Sec 372 A and 293
This query is : Resolved
25 January 2011
can any one tel me the diference between Diference between Sec 372 A and 293??????
25 January 2011
293(i)(d) deals with borrowing powers of the company beyond which the approval of the shareholders is required.
While 372A deals with making of intercorporate loans and investments by a company.
While 372A deals with making of intercorporate loans and investments by a company.
27 January 2011
Can u tell me about limit beyond which shareholder approval is required? or where i acn find it if not so prescribed????
27 January 2011
The limits are given in the respective sections.
293 (Borrowing Powers) limit - aggregate of the paid up capital of the company and its free reserves.
372A (Investments) limit - 60% of its paid up share capital and free reserves or one hundred percent of its free reserves, whichever is more.
293 (Borrowing Powers) limit - aggregate of the paid up capital of the company and its free reserves.
372A (Investments) limit - 60% of its paid up share capital and free reserves or one hundred percent of its free reserves, whichever is more.
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