Chapter: XII
Section: 180(1)(c)
Approximate Time Saving: 1 hour , 30 minutes
This document consist of draft Shareholder Resolution, to authorize the Board of Directors of the Company to borrow money in excess of Paid up Capital and Free Reserves of the Company, along with Explanatory Statement in editable word format making it handy for you to use and save your time and efforts
Section 180(1)(c)
(1) The Board of Directors of a company shall exercise the following powers only with the consent of the company by a special resolution, namely:—
(c) to borrow money, where the money to be borrowed, together with the money already borrowed by the company will exceed aggregate of its paid-up share capital and free reserves, apart from temporary loans obtained from the company’s bankers in the ordinary course of business:
Dokmart is the one stop destination for your professional needs related to documents and formats.
Get ready to use professionally made quality documents including formats, drafts, procedures, policies, minutes, resolutions etc. and save your professional time and efforts.
At Dokmart, we work hard to help you work smarter !
Copyright © 2024, Dokmart. All Rights Reserved.
