Question
As per _______ of the Companies Act 2013, the Board of
Directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do.Solution
Section 180: Restrictions on powers of Board. The Board of Directors of a company shall exercise the following powers on behalf of the company by means of resolutions passed at meetings of the Board, namely: 1. to make calls on shareholders in respect of money unpaid on their shares. 2. to authorise buy-back of securities under section 68. 3. to issue securities, including debentures, whether in or outside India. 4. to borrow monies. 5. to invest the funds of the company. 6. to grant loans or give guarantee or provide security in respect of loans. 7. to approve financial statement and the Board’s report. 8. to diversify the business of the company. 9. to approve amalgamation, merger or reconstruction. 10. to take over a company or acquire a controlling or substantial stake in another company. 11. any other matter which may be prescribed.
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