Board Meetings:( Sec-285-288):
1.Duration of MeetingLSec-285): Once in every 3 months and at least 4 such meetings in a year.
2.Notice(Sec-286): Must be given in writing to every director for the time being in India and at his usual address in India.
a. 1/3rd of the total strength or
b. 2 directors
Whichever is higher.
4. General Powers of the Board:
1. Power to do all that of which it derives the power from the MOA, AOA and Companies act and not beyond of any.
2. Boards power to be exercised only at the meeting of the Board( Sec-292).
a. Power to make Calls on the shareholders for unpaid shares.
b. Power to issue debentures.
c. Power to borrow moneys (through Public deposits, GDR’s, ADR’s.)
d. Power to invest the funds of the company.
e. Power to grant Loans.
Delegation of Powers:
1.Committee of directors.
4.Any other Principal officer of the Company.
1.To fill casual Vacancy.
2.To give consent to certain contracts in which directors, their relatives and firms are interested.
3.To receive notice of disclosure of Directors interest in any contract
4.To receive notice of Disclosure of Shareholdings of directors.
5.To appoint MD or Manager of another Company.
6.To give declaration of Solvency.
Powers to be exercised with the approval of the Company in general Meeting:
1.Sale of an Undertaking
2.Remission of time.
3.Investment of Compensation proceeds.
4.Borrowing more than equity
5.Contribution to charities