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    Question

    As per Section 182 of Companies Act 2013, acompany, other than aGovernment companyand a company which has been in existence for less than _____financial year, may contribute any amount directly or indirectly to any political party.

    A Ten Correct Answer Incorrect Answer
    B Seven Correct Answer Incorrect Answer
    C Five Correct Answer Incorrect Answer
    D Three Correct Answer Incorrect Answer
    E Two Correct Answer Incorrect Answer

    Solution

    Section 182 – Prohibitions and restrictions regarding political contributions (1) Notwithstanding anything contained in any other provision of this Act, acompany, other than aGovernment companyand a company which has been in existence for less than threefinancial year, may contribute any amount directly or indirectly to any political party: Provided that no such contribution shall be made by a company unless aresolution authorising the making of such contribution is passed at a meeting of theBoard of Directorsand such resolution shall, subject to the other provisions of this section, be deemed to be justification in law for the making of the contribution authorised by it. Snapshot from study notes of the ixamBee SEBI course covering topic in crisp and easy to remember format Also same Question covered in revision Questions for Companies Act

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