Formed a management committee and delegated the power to borrow money (within the statutory limit of Section 180(1)(c)) alongwith its related documentations and filings.
Generally, we file MGT 14 every time we avail loans from banks.
My question is if the power is delegated to the Management Committee to borrow money on behalf of the Board, we do not have to file MGT 14 everytime , being a Public listed company?
Kindly clarify me whether borrowing limits under Section 180(1)(c) covers the corporate guarantee provided by the company to bank on behalf of its subsidiary company.
E.G. A Ltd.(Holding company) borrowing Limits Rs. 300Cr. Loan taken by A Ltd. is Rs. 200 Cr. B Ltd. (wholly owned Subsidiary of A Ltd.) owed a loan Rs. 150 Cr on the guarantee of A Ltd. Whether the borrowing limit of A Ltd. is required to be increased to Rs. 350 Cr.(Rs.200 Cr. and Rs.150 Cr.) ?
Section 180(1)(c) applicable to Section 8 companies? This Section is not applicable to private companies and Section 8 company (Class:private) is eligible for privileges given to limited companies. MCA has not given any specific exemption as given under July 2015 notification. please suggest. '
section
companies
1801c
applicable
Section 180(1)(c) applicable to Section 8 companies?
This Section is not applicable to private companies and Section 8 company (Class: private) is eligible for privileges given to limited companies. MCA has not given any specific exemption as given under July 2015 notification.
please suggest
section
companies
1801c
applicable
Required resolution format can any one share?
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1801a
section
under
resolutions
Is there is need to disclose Section 180(1)(c) of Companies Act 2013 in Directors Report at the time of Annual Filing.
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