Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 
Skip Navigation Links
V.S. Datey on Companies Act, 2013
  • Sale of immovable property by Private Limited Company

    by Rohit on Thursday, February 16, 2017 at 03:38 PM

    Dear Sir, My query is, "Shall passing of Ordinary Resolution is sufficient in case of selling of immovable property by Private Limited Company or Special Resolution shall be required for the same under the Companies Act, 2013." "Also what are the other governing provisions for sale of immovable property by Private Limited Company under the Companies Act, 2013."

    Replied byV.S. Datey Thursday, February 16, 2017 at 03:41 PM

    no restriction in sale of immovable property - restricion only on sale of undertaking Meaning of ‘substantially the whole of the undertaking - “Substantially the whole of the under¬taking” in any financial year shall mean 20% or more of the value of the undertaking as per the audited balance sheet of the preceding financial year - Explanation (ii) to section 180(1)(a) of Companies Act, 2013. This restriction not applicable to [private company and hence no resolution required - but if some outside members are there, it may be advisable to get such resolution passed though not legally required V S Datey

 
taxmann.com
Payment
Best view in 1140 x 768