Section 179 of CA 2013 : Section 179: Powers Of Board

CA 2013

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Explanation using Example

Imagine a technology company, "InnovTech Ltd.", where the Board of Directors is considering expanding their operations. The Board wants to take a loan to fund this expansion. Under Section 179(3)(d) of the Companies Act, 2013, the Board has the power to borrow monies on behalf of the company. However, they must do so by passing a resolution at a Board meeting.

The Board calls a meeting and passes the necessary resolution to borrow funds from a bank. In doing so, they comply with Section 179, exercising their power within the limits set by the company's memorandum a...

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