Exceeded Investment limit of 186

    Posted By : damini / Published on : 20-Jan-2020 11:34 AM / View : 35 / Comment : 1
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    A company has exceeded the Section 186 limit for (c) acquire by way of subscription, purchase or otherwise, the securities of any other body corporate, and this investment was made before Companies Act, 2013 in the year 2010, What can be the remedy to comply with the provision of 186 of Companies Act, 2013 now?
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    • Dear Member,

      According to section 186, if company exceeds the limit priscribed in the section then, prior approval is reqiuired by shareholder.

      In your case since, approval from shareholder is not taken, you may call for the shareholder meeting and take approval now and also mention about the investment already made. This approval will be in the form of rectification.

      21-01-2020 / 05:31:13 AM

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