Question
Under which section of the Companies Act the Board and
other persons can make contributions to the National Defence Fund or any other fund as approved by Central Government for the purpose of National Defence.?Solution
The Board or any person so authorized to act on behalf of Board & Company in General Meeting may contribute any amount to National Defence Fund or any other fund as approved by Central Government for the purpose of national defence.The Company shall disclose the total amount of contribution to such funds in its Profit and Loss account during the financial year to which the amount relates.
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