Companies Act, 1956

Section - 292 - Certain powers to be exercised by Board only at meeting

Certain powers to be exercised by Board only at meeting.

292. (1) The Board of directors of a company shall exercise the following powers on behalf of the company, and it shall do so only by means of resolutions passed at meetings of the Board :—

         (a)  the power to make calls on shareholders in respect of money unpaid on their shares ;

    [(aa)  the power to authorise the buy-back referred to in the first proviso to clause (b) of sub-section (2) of ;]

         (b)  the power to issue debentures ;

          (c)  the power to borrow moneys otherwise than on debentures ;

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