Section 293(1)(d)

udit sharma (Company Secretary) (2303 Points)

04 January 2011  

Interpretation of the words "Borrowed and to be borrowed" - does it mean that the borrowed amount includes the entire sanctioned amount or just only such amount which is actually drawdown by the company

Eg : I had a loan sanctioned for Rs. 50cr but i made a drawdown of Rs.5cr,now i want to take another Rs. 50 cr from some other bank . My paid-up cap & Reserves are Rs. 75cr.
Do i need to get shareholders consent??


CS Udit Sharma