section under passed resolution validity
Well said kothari associates,
The validity of the resolution passed under Section 185 and 186 of the Companies Act, 2013 depends on the nature and purpose of the transaction for which the resolution is passed.
Under Section 185, a resolution passed by the board of directors approving a loan or guarantee to a director or his/her relative or to any other entity in which such a director or his/her relative is a partner, director, or guarantor, is valid for a period of two years from the date of passing the resolution. This means that the company cannot provide such a loan or guarantee after the expiry of two years from the date of passing the resolution, unless a fresh resolution is passed.
Under Section 186, a resolution passed by the board of directors approving a loan, guarantee, or security provided by the company to any person or entity, is valid until the expiry of the next financial year, unless renewed by a fresh resolution. This means that the company cannot provide such a loan, guarantee, or security after the expiry of the financial year, unless a fresh resolution is passed.
It is important to note that these resolutions need not be passed every year unless the transaction for which the resolution is passed is recurring or ongoing in nature. In such cases, the board of directors may pass a single resolution, which would cover all such transactions for a specified period, subject to the limits and conditions prescribed under the Act and the rules made thereunder.
However, if the company wishes to undertake a transaction that is not covered by the previous resolution or if the resolution has expired, then a fresh resolution must be passed before the company can undertake such a transaction.
Dear All,
Does anybody has 4-5 years old section 8 microfinance company
State can be Delhi, Haryana or Rajasthan
Name must include "Microfinance"
company microfinance section
Hi,
The company is foreign subsidiary and wants to alter its MOA.
The nominee Director who is a subscriber to MOA on behalf of foreign company, is an NRI.
Is it mandatory to get the altered MOA Apostle?
Hello,
Will the FEMA Provisions get violated if the Company is registered as NBFC? pl guide
Dear Members,
We have planned to distribute educational equipment to underprivileged students studying in various levels.
The equipment purchase including GST ?
How do we treat the CST Contribution for Compliance ?
1. Purchase materials including GST and should not claim GST input
Ex:- CST Contribution is Rs. 1 Lakh
purchase material worth Rs. 1 Lakh (including GST 18,000/-)
or
2. Purchase the materials to the extent of Rs. 1 Lakh and pay GST 18% GST and total payout Rs. 1,18,000/-
Payout Rs. 1,18,000/- and claim 18,000/- the input tax credit ?
Which is the best practice of compliance ??
contribution under purchased goods treatment
I have Incorporated a new Company and I am in the Process to Open a Bank Account with HDFC BUT Bank Asking Minimum 25000 to Open a Bank Account but my Total Paid up Capital Itself is Rs. 5000 Only.
Can Director Deposit More than Actual Payable or how to Sort out this Issue Because when Filling Form 20 a Bank Statement is Required.
Please Help me in this Regard
Dear Members,
Please anyone share rate of stamp duty for share certificate in Kolkata, West Bengal.
Dear All
Can anyone help me with the name approval of section 8 microfinance? Objection raised by CRC due to small finance objects.
Dear all,
Plz share ur experience regarding LLP 3 approvals.... Generally what time ROC takes for approval. Because I filed LLP 3 for changing object of LLP at 10 days ago..and I haven't received any response from ROC yet. On MCA it's showing Pending for approval.
form 
When u modify your charge and made agreement with bank when required otherwise no required every year