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Political contribution

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(Querist)
04 October 2012 Is it necessary for a public company to pass resolution before making contribution to a political party as per section 293A of The Companies Act, 1956?...
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
04 October 2012 No contribution to a political party shall be made by a company unless a resolution authorising making of such contribution is passed at a meeting of the Board of Directors and such resolution shall be deemed to be justification in law for the making and acceptance of the contribution authorised by it.

Therefore, for every political contribution Board Resolution is required to be passed.
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SANYAM ARORA

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SANYAM ARORA (Expert)
04 October 2012 Agreed with the reply
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Neha Kapoor

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Neha Kapoor (Querist)
05 October 2012 Thanks Sir....
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