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As per Rule 7 of Companies (meetings of board and its powers), 2014, a pvt. ltd. which has borrowed money from banks and PFIs > Rs. 50 crores need to establish a vigil mechanism. Pls. clarify whether working capital limits / short term loans which are not counted for calculation of limits of borrowing u/s 180, are to be included or excluded?

Section 177- Audit committee.

Posted By: Aakanksha 9 year(s) ago

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


Expert    Ankit Singhi

Borrowing shall include all kind of borrowings whether its short term or working capital limits.

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