Our Recommendations :-
Follow CA Final FB Page

Filing of form MGT-14

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rohan asked over 3 years ago

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.

    0       0 Answer Now Comment Report
4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 swati CHAUHAN answered over 3 years ago

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

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Open uri20170510 32134 191jpz9?1494421696 Lokesh answered over 3 years ago

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

    4       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 DarshiL answered over 3 years ago

yes its necessary

    0       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 chetan answered over 3 years ago

Yes, it is necessary for the company to file MGT-14 every time it borrows money , within a month of passing board resolution. Go through Sec 117 (3) (g) for more reference

    0       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.