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A pvt Co. has borrowings exceeding paid up & reserves before 12.9.2013. After the said date, it has not borrowed any amount. In my view, Board resolution u/s 179 and special resolution u/s180 are still required to cover continuance of old borrowings. Is this view OK ?

Fund raising

Posted By: Manouj agrawaal, fca, partner 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    mahesh mehta

no it is required only for fresh borrowings

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