Proviso to Section 179(3) specifically provides that for matters specified in clauses (d) to (f), BOD may delegate its powers to committee of directors, the managing director, the manager or any other principal officer of the company.
In view of above, what about the matters specified in clause k, provided in point 8 of Companies (Meetings of Board and its Powers) Rules, 2014 like making of political donation?
Can Company pass a general resolution to delegate someone for making such contribution within the limits prescribed in section 182 of the CA, 2013??
Moreover proviso to section 182(1) states that "Provided further that no such contribution shall be made by a company unless a resolution authorising the making of such contribution is passed at a meeting of the Board of Directors"
Does this means that prior approval will be required before making such political contribution???
CAclubindia
