Gencircular 042014 clarification sec 180
1
General Circular no. 04 /2014 No. Il32l20I3- CL V (ft. File) Government of India Ministry of Corporate Affairs 5m Floor, 'A'Wing, Shastri Bhavan, Dr. R P Road, New Delhi-l10001. Dated:25103120L4 To All Regional Directors, All Registrar of Companies, All the Stakeholders, Subject: Clarlfication wlth regard to section 180 of the Companies Ac!, 2013. Sir, This.Ministry has received many representations regarding various difficulties arising out of implementation of section 180 of the Companies Act, 2013 with reference to borrowings and/or creation of security, based on the basis of ordinary resolution. The matter has been examined in the Ministry and it is hereby clarified that the resolution passed under section 293 of the Companies Act, 1956 prior to 12.09.2013 with reference to borrowings (subject to the limits prescribed) and / or creation of security on assets of the company will be regarded as sufficient compliance of the requirements of section 180 of the Companies Act, 2013 for a period of one year from the date of notification of section 180 of the Act. Yours faithfully, ,fu$uwr-"r Assistant Director (Policy) Ph. no. 23387263 Copy to: Guard File
-
Upload
shalu-saraf -
Category
Law
-
view
108 -
download
2
description
Companies Act, 2013
Transcript of Gencircular 042014 clarification sec 180
General Circular no. 04 /2014
No. Il32l20I3- CL V (ft. File)Government of India
Ministry of Corporate Affairs
5m Floor, 'A'Wing, Shastri Bhavan,Dr. R P Road, New Delhi-l10001.
Dated:25103120L4To
All Regional Directors,All Registrar of Companies,All the Stakeholders,
Subject: Clarlfication wlth regard to section 180 of the Companies Ac!, 2013.
Sir,This.Ministry has received many representations regarding various difficulties
arising out of implementation of section 180 of the Companies Act, 2013 withreference to borrowings and/or creation of security, based on the basis of ordinaryresolution. The matter has been examined in the Ministry and it is hereby clarified
that the resolution passed under section 293 of the Companies Act, 1956 prior to12.09.2013 with reference to borrowings (subject to the limits prescribed) and / orcreation of security on assets of the company will be regarded as sufficientcompliance of the requirements of section 180 of the Companies Act, 2013 for a
period of one year from the date of notification of section 180 of the Act.
Yours faithfully,
,fu$uwr-"rAssistant Director (Policy)
Ph. no. 23387263
Copy to: Guard File
