Is there any maximum limit for taking loan u/s 293(1) (d)

pursuant to the provisions of the section 293(1)(d) and other applicable provisions, if any , of the Companies Act, 1956 including any statutory modifications or reenactments thereof and pursuant of the provisions of the Articles of Association of the company,

consent of the company be and is hereby

accorded to the Board of Directors of the Company(hereinafter referred to as the Board ) to borrow money time to time from Banks, financial institutions or any other lenders-whether Government or private or form time to time from Banks, from other person on such terms and conditions as the Board may consider suitable , up to such a limit not exceeding

???? (is there any maximum limit ) ,

Replies (1)

Hi,

The loan apart from temperory borrowings if any,, shall not cross the aggregate of paid up capital or free reserves of the company by a sum not exceeding Rs. 50,000 Million.

Others view may be solicited.

Regards,

Sriram.V

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