Resolutions and agreements to be filed

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....be embodied in or annexed to every copy of the articles issued after passing of the resolution or making of the agreement. ^12[(2) If any company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified therein, such company shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of two lakh rupees and every officer of the company who is in default including liquidator of the company, if any, shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... clause shall apply in respect of a resolution passed to grant loans, or give guarantee or provide security in respect of loans under clause (f) of sub-section (3) of section 179 in the ordinary course of its business by,- (a) a banking company; (b) any class of non-banking financial company registered under Chapter IIIB of the Reserve Bank of India Act, 1934 (2 of 1934), as may be prescribed in consultation with the Reserve Bank of India; (c) any class of housing finance company registered under the National Housing Bank Act, 1987 (53 of 1987), as may be prescribed in consultation with the National Housing Bank; and] (h) any other resolution or agreement as may be prescribed and placed in the public doma....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n No. S.O. 1833 (E) dated 07-05-2018) before it was read as, "(e)  resolutions passed by a company according consent to the exercise by its Board of directors of any of the powers under clause (a) and clause (c) of sub-section (1) of section 180;" 8. Omitted vide Section 30 of the Companies (Amendment) Act, 2017 w.e.f. 07-05-2018 (Notified vide Notification No. S.O. 1833 (E) dated 07-05-2018) before it was read as, "and" 9. Inserted vide Section 30 of the Companies (Amendment) Act, 2017 w.e.f. 07-05-2018 (Notified vide Notification No. S.O. 1833 (E) dated 07-05-2018)  10. Substituted vide Section 255 readwith Eleventh Schedule of the Insolvency and Bankruptcy Code,....