Dear Sirs
We are closely held limited company. We are renewing the existing working capital credit facilities from LVB Ltd. We are giving the board resolution to bank for accepting the limits. Whether MGT -14 applicable to this resolution.
Advance Thanks for your reply
Regards
S.Mohan
Accountant
yes mgt - 14 is required
As per Section 179(3)(d) i.e. To Borrow Money, the resolution is required to be filed with ROC as an attachment in MGT-14
Sir,
A company has failed to file Special Resolution in Form 23 under Old Companies Act 1956 on 30.04.2013. Such non-compliance is still continued by the company under New Companies Act 2013.
How additional fees will be levied on the company, under old act or new act and how the same can be saved. Please guide.
yes MGT-14 need to file
No additional fees in this instance can be saved bro. Moreover, while filing MGT-14, the system will require the SRN of INC-28 i.e. the form is being filed with a delay of 300 days. Hnece, the same need to be compound from the CLB. So instead of Additional Fees, compounding fees will also have to be given by the company now for the MGT-14 filed for back dated.
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