https://www.taxtmi.com/acts?id=12628 The Board must exercise specified powers only by resolutions at Board meetings - notably calls on shareholders, issuance of debentures, borrowing (other than on debentures), investments and loans. The Board may delegate borrowing, investment and loan-making powers by meeting resolution, but each delegation must specify total monetary limits, the nature of investments or permissible loan purposes and maximum amounts per purpose. Banking company deposit-taking and certain interbank placements are not treated as borrowings or loans under this section. The general meeting may impose restrictions on the Board's exercise of these powers. en-us Fri, 13 May 2011 11:24:38 +0530 Fri, 13 May 2011 11:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12628 The Board must exercise specified powers only by resolutions at Board meetings - notably calls on shareholders, issuance of debentures, borrowing (other than on debentures), investments and loans. The Board may delegate borrowing, investment and loan-making powers by meeting resolution, but each delegation must specify total monetary limits, the nature of investments or permissible loan purposes and maximum amounts per purpose. Banking company deposit-taking and certain interbank placements are not treated as borrowings or loans under this section. The general meeting may impose restrictions on the Board's exercise of these powers. Act-Rules Companies Law Fri, 13 May 2011 11:24:38 +0530 https://www.taxtmi.com/acts?id=12628