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what is section 180 (1) (c) of companies act, 2013
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Quick Summary
The Board of directors need to pass Special resolution if the borrowings proposed together with the money already borrowed exceeds the aggregate of paid up capital, free reserves and security premium.
Section 180 of the companies act, 2013, restricts the power of board of directors. Board can exercise some powers only with the consent of the company by a special resolution.
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