Re: new loan obtained during 2014-15
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 May 2015
Dear Sir, Whar are the formalities reqd.for fresh loan taken during 2014-15.
Is any spl.resolution reqd. and MGT-14 is to be filed.Kindly throw some light on this burning issues.As some CS are saying that permission by way of Spl.resolution is needed for fresh loans.Thnaks in advance.
Is any spl.resolution reqd. and MGT-14 is to be filed.Kindly throw some light on this burning issues.As some CS are saying that permission by way of Spl.resolution is needed for fresh loans.Thnaks in advance.
CS JAY GOHIL
(Expert)
19 May 2015
u/s 180 of companies act 2013, company wanted to take loans (amount includes loan already taken earlier if any) above following limits , for that special resolution are required to tile via form MGT - 14
1. above 60% of its paid up capital or
2. above 100% of paid up capital + free reserves of company
1. above 60% of its paid up capital or
2. above 100% of paid up capital + free reserves of company
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