Apna Dhan Ltd., is a Public Sector Undertaking, manufacturing various beverages. The management of the Company was evaluating to expand its footprint globally, it was planning to spend USD 7,500 for advertisement in fore
CS Professional · Multidisciplinary Case Studies · PYQS · December 2023
Apna Dhan Ltd., is a Public Sector Undertaking, manufacturing various beverages. The management of the Company was evaluating to expand its footprint globally, it was planning to spend USD 7,500 for advertisement in foreign print media. The Company also plans to donate USD 2,00,000 to a technical institution established in Chicago at USA for conducting advanced research in the field of beverages. The foreign earnings of the Company for the last four financial years is as follows: Financial Year Amount in USD 2019-2020 3,250,000 2020-2021 3,500,000 2021-2022 3,750,000 2022-2023 4,000,000 The company has reached out to you, to advise them on the following: (i) Can it spend USD 7,500 for advertisement in foreign media ? Advise in the background of relevant legal provisions.
Topics: Companies Act, 2013
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