Chamber of Prakash K. Pandya

Section 181 Company to contribute to bona fide and charitable funds, etc.

CHAPTER XII
MEETINGS OF BOARD AND ITS POWERS

[Section 181 is brought to force with effect from September 12, 2013.]

Company to contribute to bona fide and charitable funds, etc.

Section 181. 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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