Due diligence report

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RITU BERI

RITU BERI (Querist)
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06 September 2013 Due diligence Report - Consortium Finance by banks can be signed by CS only ?

Ajay Mishra

Ajay Mishra (Expert)
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06 September 2013 Hi

Please check Board Resolution, in which such CS is authorised or not for this purpose.

RITU BERI

RITU BERI (Querist)
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07 September 2013 Si,

No any resolution is passed till now.

Is it mandatory to pass a resoltion & either a CA or CS can be authorised.

Ajay Mishra

Ajay Mishra (Expert)
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07 September 2013 Yes, Board resolution is required for authorisation.

RITU BERI

RITU BERI (Querist)
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07 September 2013 Thank you, but the answer for the IInd part of que.

Ajay Mishra

Ajay Mishra (Expert)
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07 September 2013 No it is not mandatory. You can authorise to some one other than CA/CS of the company.

RITU BERI

RITU BERI (Querist)
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07 September 2013 Actually in the format it is mentioned like

Name of Company Secretary

C. P No etc

So have doubt.

this format is as per the RBI.

Ajay Mishra

Ajay Mishra (Expert)
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07 September 2013 Yes when you appoint PCS for this then you will mention the details of PCS.

Generally RBI give such authority to CA/CS only.

RITU BERI

RITU BERI (Querist)
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09 September 2013 Thank You sir

RITU BERI

RITU BERI (Querist)
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26 September 2013 For the purpose of the borrowing powers of the company ie for the purpose of section 292, the Cash credit limit is included or excluded.

I need any supporting for the same..

Thanks in advance

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