Restrictions on powers of Board.

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.... (a) to sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where the company owns more than one undertaking, of the whole or substantially the whole of any of such undertakings.                Explanation.-For the purposes of this clause,-      (i) "u....

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....o borrow money, where the money to be borrowed, together with the money already borrowed by the company will exceed aggregate of its paid-up share capital and free reserves, apart from temporary loans obtained from the company's bankers in the ordinary course of business:                Provided that the acceptance by a banking comp....

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.... any debt due from a director.      (2) Every special resolution passed by the company in general meeting in relation to the exercise of the powers referred to in clause (c) of sub-section (1) shall specify the total amount up to which monies may be borrowed by the Board of Directors.      (3) Nothing contained in clause (a) of sub-section (1) shall ....