A Company has passed a resolution to invest in mutual fund u/s 372A for Rs.2 crore. now the company has invested whole 2 crore in MF, now the company has received Rs. 20 lakh dividend on this MF and the same is re-invested by the company. so my query is that the company violating the section by investing Rs. 2.20 Crore where the resolution is passed for only Rs. 2 crore.
Thanks
As far as my limited knowledge is concern, a new resolution, defining the new limit neeed to pass
regards
Thank you Bhavin sir for replying, i have also decided the same.
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