Power to contribute to National Defence Fund allows companies to donate despite internal restrictions, with mandatory disclosure in accounts. Section 293B authorises the board, any person or authority exercising board powers, or the company in general meeting to contribute amounts to the National Defence Fund or any Central Government-approved fund for national defence notwithstanding contrary provisions in sections 293 and 293A or in the memorandum, articles or other instruments; every company must disclose in its profit and loss account the total contributions made to such fund during the financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to contribute to National Defence Fund allows companies to donate despite internal restrictions, with mandatory disclosure in accounts.
Section 293B authorises the board, any person or authority exercising board powers, or the company in general meeting to contribute amounts to the National Defence Fund or any Central Government-approved fund for national defence notwithstanding contrary provisions in sections 293 and 293A or in the memorandum, articles or other instruments; every company must disclose in its profit and loss account the total contributions made to such fund during the financial year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
