Section 186 of companies act
This query is : Resolved
30 November 2016
Hi, Two Questions
We have to check the limit (60% or 100%)
1) on Date of Board Resolution or on date of disbursement of Loan.
2) on Basis of Un-audited accounts or Audited Accounts (No where it is mentioned that it should be as per audited accounts, Normally act clearly say as per last audited results..if it intent like that)
Please give you opinion ....... with if your opinion is as on date of disbursement of loan & as per audited Accounts please give the basis for the same..
Thanks
We have to check the limit (60% or 100%)
1) on Date of Board Resolution or on date of disbursement of Loan.
2) on Basis of Un-audited accounts or Audited Accounts (No where it is mentioned that it should be as per audited accounts, Normally act clearly say as per last audited results..if it intent like that)
Please give you opinion ....... with if your opinion is as on date of disbursement of loan & as per audited Accounts please give the basis for the same..
Thanks
30 November 2016
Latest audited balance sheet. Inference - explanation (b) to section 372A of 1956 Act.
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