Investing funds by pvt. co in other company pvt.co

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2011 The pvt.company has invested 1.50 crores in other pvt.co but Sec 372A is not applicable to Pvt. Co. & as per sec 292 Board Resolution is must or else board can delegate its powers so Resolution delegating powers is must. So as an internal auditor what documents needs to be checked by us.

RG - A Helping Hand

RG - A Helping Hand (Expert)
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08 December 2011 1. Signed copy of board resolution of investor company.
2. MOA and AOA of both the company
3. Authorisation letter/resolution passed by investee company in its board to enter into the transaction.
4. If mode of investment is equity then valuation report of investee company shares.
5. Share certificate with stamp duty
6. Entry in register of members.

RG

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