Power to board
This query is : Resolved
23 November 2011
Hi All, A public copany wants to pass some resolution for delegating general powers to the board with respect to capital raising, investing , borrowing powers, etc.
Can anyone provide my the draft of the same......Its urgent
Can anyone provide my the draft of the same......Its urgent
CS Ankur Srivastava
(Expert)
28 November 2011
The above powers can not be delegated. Only authorisation can be done to take necessary actions in this regard.
Borrowing power can only be granted by the shareholders under section 293(1)(d) for which ordinary resolution is to be passed and form 23 is to be filed within 30 days of passing the resoltion.
Borrowing power can only be granted by the shareholders under section 293(1)(d) for which ordinary resolution is to be passed and form 23 is to be filed within 30 days of passing the resoltion.
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