Dear All.
Plz help me out regarding this....
Section 180 of companies Act 2013 is applicable w.e.f 12.09.2013 and now on private companies also. So, while making a special resolution of priivate companies for their existing borrowings which are exceeding the limits, is it neccessary to mention the notified date for special resolution i.e. 12.09.2013 or we can pass the special resolution in current date as no new loan has been taken.....???
Dear Deepti,
You can pass the resolution in current date and take approval which will be for the limits o/s and any fresh borrowing expected in near future.
Thanks a lot Mr. Sagar
Does it would be considered non-compliance or attracts penalty...???/
There is no contravention. Refer MCA circular No.4 dated 25.3.2014.
CAclubindia
