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Companies Act

Section 181. Company To Contribute To Bona Fide And Charitable Funds, Etc

Narendra Kumar
21 Nov, 2023 21 Nov, 2023
Companies Act, 2013

The Board of Directors of a company may contribute to bona fide charitable and other funds:

Provided that prior permission of the company in general meeting shall be required for such contribution in case any amount the aggregate of which, in any financial year, exceed five per cent. of its average net profits for the three immediately preceding financial years.

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