Does ‘any financial year’ mentioned in section 135(1) mean at any time in the history of the company?

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The Ministry of Corporate Affairs has vide General Circular No. 21/2014 dated June 18, 2014 clarified that ‘any financial year’ referred under sub-section (1) of section 135 of the Act read with Rule 3(2) of (CSR Policy) Rules, 2014 implies ‘any of the three preceding financial years’. As per the clarification, in case of a… Read more »