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
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details