Cos 181 — Company to contribute to bona fide and charitable funds, etc

Companies Act, 2013

Statutory text

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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