In a board meeting , the board of directors of a company have approved resolutions for borrowing loan from a Bank for purchase of vehicles. The borrowing is within the limit approved by the Members. ,therefore whether the company has to file MGT-14 with ROC along with the copy of board resolution within 30 days of board meeting date.
Yes it is necessary to file MGT-14 with ROC within 30 days from the date when resolution is passed in a BM (Board Meeting) following documents are filed with ROC :- copy of a resolution explanatory statement along with fees as prescribed
Dear Rohan, Please note when a resolution regarding borrowing loan is passed the company is required to comply as follows- 1. Borrowing loan is power given under Section 179(3) to the BOD. 2. As per rule 24 of Companies (mgmt & Admn) Rules,2014 the company is required to file with roc in form MGT 14 the following - 1. Copy of Resolution. 2. An Explanatory Statement. 3. Along with the fees as prescribed. within 30 days of passing resolution. Regards ! Lokesh