Company law

k.c. palai (M.Com) (63 Points)

07 February 2014  

Dear Sir/ Madam,

Would request you to solve the following query:

XYZ Pvt Ltd is a company incorporated on Aug, 2014. Its present paid up capital is Rs. 1 Lac and there are no Reserves & Surplus.

Now it wants to take a Inter-Corporate Deposits  of Rs. 10 Lacs from another Company for a period of 1 month (which is not a Banking company).

Now as per the section 180 of the Companies Act, 2013 does this Private Limited Company has to pass special Resolution in General Meeting for the limit enhancement in the above purpose.

 

Thanks in Advance

K. C. Palai