In view of Section 179 (3) read with Section 117 and prescribed rules of the NCA 2013, a company has to pass a Board resolution
- to borrow monies
- to invest the funds of the company
- to buy/sell investments of a company wherein the investment constitutes 5% or more of the Paid up capital and Free reserves of the Investee Company.
and such resolution is to be filed with RoC within 30 days in Form MGT-14
Does this mean every time the company borrows or invests, a separate resolution needs to be passed?
---
Sneha Jain
CAclubindia
