Restriction on the power of board

Khushboo Maheshwari (Company Secretary) (548 Points)

28 April 2014  

In Section 293 (1)(d) of CA 1956 and now Section 180 of CA, 2013, while calculating the borrowing limit, do we consider the loan sanctioned limit or the actual loan disbursed limit (as appearing in Balance Sheet). Also if any loan has been repaid, will the limit revive accordingly ?


Would request you to please advice at the earliest