requirement of resolution
This query is : Resolved
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
please specify special or ordinary resolution
regards
manish pathak
Jayashree S Iyer
(Expert)
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.
For investments exceeding the above limits special resolution is required to be passed in the General Meeting.
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