Resolutions passed at meetings of the Board will not be available for Public Inspection

 Companies (Registration Offices and Fees) Rules, 2015 has been amended by Notification dated 29.05.2015 Issued by MCA. There by no person shall be entitled under section 399 to inspect or obtain copies of resolutions referred to in clause (g) of sub-section (3) of section 117 of the Act. So Public Inspection will not be possible for the following Resolutions passed by Board of Directors.

(a) to make calls on shareholders in respect of money unpaid on their shares;

(b) to authorise buy-back of securities under section 68;

(c) to issue securities, including debentures, whether in or outside India;

(d) to borrow monies;

(e) to invest the funds of the company;

(f) to grant loans or give guarantee or provide security in respect of loans;

(g) to approve financial statement and the Board’s report;

(h) to diversify the business of the company;

(i) to approve amalgamation, merger or reconstruction;

(j) to take over a company or acquire a controlling or substantial stake in another company;

(k) any other matter which may be prescribed

Leave a Reply

Your email address will not be published. Required fields are marked *