292. CERTAIN POWERS TO BE EXERCISED BY BOARD ONLY AT MEETING

[Guest]

whether section 292 is also applicable on private company

when loan given by a private co. to a firm(in which director is a partner of a firm)

then what formalities should follow by a private company and firm

??

[DR.MARIAPPAN GOVINDARAJAN]

Now the Companies Act, 2013 has been come into force. You may go through the same. If you have any doubt then inform.

AI Summary

Board meeting powers: applicability to private companies and formalities for loans involving director-partners require review under updated statutory framework. Whether certain powers must be exercised by the board only at a meeting is queried for private companies and for loans by a private company to a firm in which a director is a partner; the response directs that the updated statutory framework has come into force and should be consulted to determine applicability and required formalities.