Special Resolution for loans and guarantees must specify board authorisation limits and require financial statement disclosure. A resolution at a general meeting must specify the total amount up to which the Board of Directors are authorised to give loans, guarantees, provide security or make acquisitions, and the company must disclose full particulars to members in the financial statements as required by the statutory disclosure provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special Resolution for loans and guarantees must specify board authorisation limits and require financial statement disclosure.
A resolution at a general meeting must specify the total amount up to which the Board of Directors are authorised to give loans, guarantees, provide security or make acquisitions, and the company must disclose full particulars to members in the financial statements as required by the statutory disclosure provision.
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