Is board resolution mandatory for making short term deposit with Banks by a private limited company? Please answer with some reference. Thanks in Advance.
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Replies (2)
Mr. SUSHIL KUMAR
Yes as per Section 179(3) it is mandatory to pass board resolution for investments.
But in case Company has already passed a resolution with bigger limit then not required.
Please feel free to write on below mentioned email address for any further clarification.
csdiveshgoyal @ gmail.com.
Dear Sir,
Thanks for your reply.
Please click on below URL and please explain whether BR is required for making short term fixed deposits with Banks.
/forum/fixed-deposit-investment-or-not-292564.asp
Thanks
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