The document is a general circular from the Ministry of Corporate Affairs of the Government of India regarding clarification on section 180 of the Companies Act of 2013. It states that any resolutions passed under section 293 of the previous Companies Act of 1956 regarding borrowings or security on company assets before September 12, 2013 will be considered sufficient compliance with section 180 for one year after its notification. The circular was addressed to regional directors, registrars of companies, and all stakeholders on the subject of clarification regarding section 180.

1. General Circular no. 04 /2014
No. Il32l20I3- CL V (ft. File)
Government of India
Ministry of Corporate Affairs
5m Floor, 'A'Wing, Shastri Bhavan,
Dr. R P Road, New Delhi-l10001.
Dated:25103120L4
To
All Regional Directors,
All Registrar of Companies,
All the Stakeholders,
Subject: Clarlfication wlth regard to section 180 of the Companies Ac!, 2013.
Sir,
This.Ministry has received many representations regarding various difficulties
arising out of implementation of section 180 of the Companies Act, 2013 with
reference to borrowings and/or creation of security, based on the basis of ordinary
resolution. The matter has been examined in the Ministry and it is hereby clarified
that the resolution passed under section 293 of the Companies Act, 1956 prior to
12.09.2013 with reference to borrowings (subject to the limits prescribed) and / or
creation of security on assets of the company will be regarded as sufficient
compliance of the requirements of section 180 of the Companies Act, 2013 for a
period of one year from the date of notification of section 180 of the Act.
Yours faithfully,
,fu$uwr-"r
Assistant Director (Policy)
Ph. no. 23387263
Copy to: Guard File