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requirement of resolution

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Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2011 a group of companies rotating funds amongst companies does it requires any resolution for such fund movement.

please specify special or ordinary resolution

regards

manish pathak

Jayashree S Iyer

Jayashree S Iyer (Expert)
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30 May 2011 If the investments are within the limits specified in Section 372A (60% of paid up share capital and free reserves of 100% of its free reserves whichever is more), it requires only Board Resolution.

For investments exceeding the above limits special resolution is required to be passed in the General Meeting.

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