Regarding sec. 180(1)(c) of ca,2013

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Nisha Sharma (Querist)
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18 November 2014

Dear All,

As this section applies form 12.09.2013 , in MCA circular 04/2014 mentioned that compliance of the requirements of sec. 180 is valid for one year from the date of notification of sec. 180 of the Act.

My question is that if the sec. comes on 12.09.2013 its applicability of 1 year validity is 11.09.2014 , from this date if borrowings increased or decrease from the amount disclose in bs 31.03.2014.

what are the compliances we need to follow.
Do we file every time MGT-14.

Kindly share your views.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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18 November 2014 You have to file MGT-14. Whenever borrowing proposed by a company,exceed the limit specified in the resolution passed earlier in this regard

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