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Intercorporate Deposits

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(Querist)
11 February 2011 Can the Board of directors delegate the power to make intercorporate loans to its subsidiary(not wholly owned) to a Committee of the Board?
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udit sharma

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udit sharma (Expert)
11 February 2011 Yes..the Board may delegate any of the powers available under section 292 of the Companies Act, 1956 to any of its Committee by means of a reslution specifying the maximum amount of the loan that can be made by the Committee.

God Bless

CS Udit Sharma
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