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Shareholder Resolution - To make Loan, Investment, Security and Guarantee

Draft Shareholder Resolution along with Explanatory Statement to allow the Company to make loan, investment and provide security and give guarantee exceeding 60% of its paid-up share capital, free reserves and securities premium account or 100% of its free reserves and securities premium account, whichever is more

Chapter: XII

Section: 186

Approximate Time Saving: 1 hour , 30 minutes

Product Information

This document consist of draft Shareholder Resolution, to make loan, investment, security and guarantee, along with Explanatory Statement in editable word format making it handy for you to use and save your time and efforts

Additional Information

Section 186

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.

Where the giving of any loan or guarantee or providing any security or the acquisition under sub-section (2) exceeds the limits specified in that sub-section, prior approval by means of a special resolution passed at a general meeting shall be necessary. 

Attachments

Ms word logo 893d6345c720ebd49a0c8837ac6a4eb42cf76ecc79bb2a728e0e4c45760bb340

To make loan investment provide security and give guarantee