Restriction on powers of board - Section 180

Hi All,

I am aware that Special resolution is required for selling the whole or substantially the whole of undertaking of the company. Also i read that undertaking includes an undertaking which generates twenty per cent of the total income of the company during the previous financial year.

Query : Previous FY total income is 180 Million and the undertaking had generated more than 20% of 180 Million. But for the current year the undertaking has not generated any income. Now if the company wants to dispose this undertaking, should SR be passed? Since for the current year there is no income from that undertaking and since the word used is "Generates" (present tense)

Thanks in advance

 

Replies (1)
Yes, Special resolution u/s 180 required to be Passed by Company.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details