Question
According to the provisions as laid down under the
Companies Act, can a Producer Company make a donation or subscription without any formal approval?Solution
Section 378ZH. Donation or subscription by Producer Company: A Producer Company may, by special resolution, make donation or subscription to any institution or individual for the purposes of— (a) promoting the social and economic welfare of Producer Members or producers or general public; or (b) promoting the mutual assistance principles.
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...20Â Â Â 60Â Â Â Â 150Â Â Â Â 300Â Â Â 450Â Â Â ?