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section 293 of company act

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 August 2010 sir plz explain the sec 293 of company act in brief
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Ankur Garg

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Ankur Garg (Expert)
31 August 2010 There are 5 imp clauses in section 293 from (a) to (e).

If a company want to use these clauses i.e want to sell or lease its substantial undertaking or borrow money beyond the total of paid up capital and free reserve, then approval of shareholders through an ordinary resolution in general meeting is required.

In short these 5 businesses can not be executed with out shareholders approval.

Thanks
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 September 2010 Thank U Sir.....
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