Company contributions to national defence funds permitted despite board limits, with disclosure required in the profit and loss account. The Board or any person exercising Board powers, or the company in general meeting, may contribute to the National Defence Fund or any Central Government-approved fund for national defence notwithstanding other provisions or company instruments, and every company must disclose in its profit and loss account the total contributions to such approved funds for 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.
Company contributions to national defence funds permitted despite board limits, with disclosure required in the profit and loss account.
The Board or any person exercising Board powers, or the company in general meeting, may contribute to the National Defence Fund or any Central Government-approved fund for national defence notwithstanding other provisions or company instruments, and every company must disclose in its profit and loss account the total contributions to such approved funds for the financial year.
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