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    Section 180(1)(c) of Companies Act 2013

    Posted By : NISHA / Published on : 04-Jan-2018 05:37 AM / View : 1019 / Comment : 2

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    Is there is need to disclose Section 180(1)(c) of Companies Act 2013 in Directors Report at the time of Annual Filing.
    Read more on : companies 1801c section

    • Yes, as per Section 134(3)(q) of the Companies Act, 2013, every company is required to disclose in its Directors' Report any material changes and commitments, if any, affecting the financial position of the company that have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report. This would include the disclosure of any resolution passed under Section 180(1)(c) of the Companies Act, 2013, which relates to the power of the board to borrow money, give loans or provide guarantees or securities in excess of certain limits, and any material impact of such a resolution on the financial position of the company.

       But in case of Private Company , there is no need to disclose Section 180(1)(c) of Companies Act 2013 in Directors Report at the time of Annual Filing in case of a private company after the exemption notification dated 15.06.2015. The exemption notification exempts private companies from obtaining shareholders' approval for entering into transactions with related parties under Section 188 of the Companies Act, 2013, subject to certain conditions. However, the company should ensure that it complies with all other provisions of the Companies Act, 2013 and any other applicable laws.
      31-03-2023 / 11:30:26 AM
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      04-03-2024 / 12:01:06 PM
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