This document consist of draft Board resolution, to make inter-corporate loan, investment and give guarantee and provided security, along with Preamble in editable word format making it handy to use and save time and efforts of a professional.
Chapter: XII
Section: 186
Rule: The Companies (Meeting of Board and its Powers) Rules, 2014
Approximate Time Saving: 1 hour
This document consist of draft Board resolution, to make inter-corporate loan, investment and give guarantee and provided security, along with Preamble in editable word format making it handy to use and save time and efforts of a professional.
Section 186
(2) No company shall directly or indirectly —
(a) give any loan to any person or other body corporate;
(b) give any guarantee or provide security in connection with a loan to any other body corporate or person; and
(c) acquire by way of subscription, purchase or otherwise, the securities of any other body corporate,
exceeding sixty percent. of its paid-up share capital, free reserves and securities premium account or one hundred per cent. of its free reserves and securities premium account, whichever is more.
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