Section 180(1)(c) of the companies act, 2013

So what I feel is special resolution and related compliances will still need to be made as any new borrowing will mean that borrowing is more than the given condition in the section.

And if we generalize this, looking it from a control standpoint, seeking approval is a control one should execute as the company has already exceeded the limit.

We can wait for other anwers too. Tx

Hi Nikhil Shand,

Acording to my interpretation every time we borrow money plus already borrowed which is in the excess of paidup capital and free reserv, special resolution is required to be passed by the company in general meeting

Regards

Rajesh Kumar