Please clarify whether the board of directors can delegate its power to make investment under section 186 to managing directors, whole time directors and cfo. The BOD has passed resolution in its meeting few years to delegate the power to invest the surplus funds of the company in ICDs. Pls tell whether under co. act 2013 can a co. make investment on the basis of this resolution
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Delegation of power to make investment u/s 186
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Yes ,the BOD can certainly do that....
in that case wat is the validity of the resolutions which werre passed in year say 2012 for delegation of power to invest money. whether such resolution hold valid today.
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