22nd November 2014
Dear Members
The board of directors of a company at a board meeting have approved resolutions for borrowing loan from a Bank for purchase of vehicles. The borrowing is within the limit approved by the Members. My question in this regard is as follows:
(1) Whether the company has to file MGT-14 with ROC alongwith copy of board resolution within 30 days of board meeting date.
with regards
Muralidharan
Yes, the co. needs to file MGT-14 every time it borrows money , within a month of passing board resolution. You can refer Sec 117 (3) (g). You can refer to the file attached.
ADY & CO.
New Delhi
Graduate (Any)
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KK & Company Chartered Accountant
Pune
CA Inter
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CCI
Pro
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