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of <h1>Section 180 of Companies Act, 2013: Board Needs Special Resolution for Major Transactions, Borrowing Beyond Limits, and More.</h1> The Companies Act, 2013, Section 180 restricts the powers of a company's Board of Directors, requiring a special resolution for certain actions. These include selling, leasing, or disposing of substantial company undertakings; investing compensation from mergers in non-trust securities; borrowing beyond the company's paid-up share capital, free reserves, and securities premium; and remitting director debts. Special resolutions must specify borrowing limits. Transactions affecting property titles or ordinary business operations are not impacted. Conditions on sale proceeds can be stipulated, but capital reduction must comply with the Act. Debts exceeding borrowing limits are invalid unless the lender acted in good faith.
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