MANAGEMENT AND CONTROL OF COMPANIES - II – POWER AND DUTIES OF DIRECTORS

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n respect of money unpaid on their shares * Power to authorize the buy-back as per the provision to section 77A (b)( 2) Section 292 (1)(aa) * Power to issue debentures Section 292(1)(b) * Power to borrow moneys otherwise than on debentures Section 292(1) (c) * Power to invest the funds of the company; and Section 292(1) (d) * Power to make loans - Section 292(1)(e) Other Powers to be exercised at Board Meeting * Power to form opinion about solvency of company in respect of Buy - back of shares - Section 77A * Power to fill up casual vacancy -Section 262 * Power to constitute Audit Committee - Section 292A * Power to make donation to political parties - Section 293A(2) * Power to accord sanction for specified contracts....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... security in connection with a loan made by any other person to, or to any other person by - * any director of the lending company, or of a company which is its holding company or any partner or relative of any such director; * any firm in which any such director or relative is a partner; * any private company of which any such director is a director or member; * any body corporate at a general meeting of which not less than twenty-five per cent of the total voting power may be exercised or controlled by any such director, or by two or more such directors, together; or * any body corporate, the Board of directors, managing director or manager whereof is accustomed to act in accordance with the directions or instructions of the Boa....