https://www.taxtmi.com/acts?id=17477 The Board must obtain the company's consent by special resolution to sell or lease the whole or substantially whole of an undertaking, invest merger compensation in trust securities, borrow beyond the aggregate of paid-up share capital, free reserves and securities premium (excluding defined temporary loans and ordinary banking deposits), or remit a director's debt; special resolutions for borrowing must specify the total limit, bona fide purchasers and ordinary business sales are protected, disposal resolutions may prescribe conditions for proceeds, and excess borrowings are invalid absent a good-faith lender defence. en-us Sat, 02 Mar 2013 13:10:51 +0530 Wed, 24 Dec 2025 14:53:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17477 The Board must obtain the company's consent by special resolution to sell or lease the whole or substantially whole of an undertaking, invest merger compensation in trust securities, borrow beyond the aggregate of paid-up share capital, free reserves and securities premium (excluding defined temporary loans and ordinary banking deposits), or remit a director's debt; special resolutions for borrowing must specify the total limit, bona fide purchasers and ordinary business sales are protected, disposal resolutions may prescribe conditions for proceeds, and excess borrowings are invalid absent a good-faith lender defence. Act-Rules Companies Law Sat, 02 Mar 2013 13:10:51 +0530 https://www.taxtmi.com/acts?id=17477