Section 179 of Companies Act, 2013 – Powers of Board

  • Updated Till : July 14, 2024

SECTION 179. POWERS OF BOARD

[Effective from 1st April, 2014]

(1) 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:

Provided that in exercising such power or doing such act or thing, the Board shall be subject to the provisions contained in that behalf in this Act, or in the memorandum or articles, or in any regulations not inconsistent therewith and duly made thereunder, including regulations made by the company in general meeting:

Provided further that the Board shall not exercise any power or do any act or thing which is directed or required, whether under this Act or by the memorandum or articles of the company or otherwise, to be exercised or done by the company in general meeting.

(2) No regulation made by the company in general meeting shall invalidate any prior act of the Board which would have been valid if that regulation had not been made.

(3) 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:—

(a) to make calls on shareholders in respect of money unpaid on their shares;

(b) to authorise buy-back of securities under section 68;

(c) to issue securities, including debentures, whether in or outside India;

(d) to borrow monies;

(e) to invest the funds of the company;

(f) to grant loans or give guarantee or provide security in respect of loans;

(g) to approve financial statement and the Board’s report;

(h) to diversify the business of the company;

(i) to approve amalgamation, merger or reconstruction;

(j) to take over a company or acquire a controlling or substantial stake in another company;

(k) any other matter which may be prescribed:

Provided that the Board may, by a resolution passed at a meeting, delegate to any committee of directors, the managing director, the manager or any other principal officer of the company or in the case of a branch office of the company, the principal officer of the branch office, the powers specified in clauses (d) to (f) on such conditions as it may specify:

EXEMPTIONS

In case of a Section 8 Company, matters referred to in clauses (d), (e) and (f ) of Section 179 (3) may be decided by the Board by circulation instead of a meeting, vide Notification No. 466(E) dated 5th June, 2015.

The above mentioned exception shall be applicable to a Section 8 company which has not committed a default in filing its financial statements under section 137 of the said Act or annual return under section 92 of the said Act with the Registrar, vide amendment notification G.S.R. 584(E) dated 13th June 2017. 

Provided further that the acceptance by a banking company in the ordinary course of its business of deposits of money from the public repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise, or the placing of monies on deposit by a banking company with another banking company on such conditions as the Board may prescribe, shall not be deemed to be a borrowing of monies or, as the case may be, a making of loans by a banking company within the meaning of this section.

[3] [Provided also that in case of a Specified IFSC private company, the Board can exercise the powers by means of resolutions passed at the meetings of the Board or through resolutions passed by circulation.]

[4] [Provided also that in case of a Specified IFSC public company, the Board can exercise powers by means of resolutions passed at the meetings of the Board or through resolutions passed by circulation.]

Explanation I.—Nothing in clause (d) shall apply to borrowings by a banking company from other banking companies or from the Reserve Bank of India, the State Bank of India or any other banks established by or under any Act.

Explanation II.—In respect of dealings between a company and its bankers, the exercise by the company of the power specified in clause (d) shall mean the arrangement made by the company with its bankers for the borrowing of money by way of overdraft or cash credit or otherwise and not the actual day-to-day operation on overdraft, cash credit or other accounts by means of which the arrangement so made is actually availed of.

(4) Nothing in this section shall be deemed to affect the right of the company in general meeting to impose restrictions and conditions on the exercise by the Board of any of the powers specified in this section.

Applicable Rules

Companies (Meetings of Board and its Powers) Rules, 2014

[Effective from 1st April, 2014]

Rule 8. Powers of Board.—In addition to the powers specified under sub-section (3) of section 179 of the Act, the following powers shall also be exercised by the Board of Directors only by means of resolutions passed at meetings of the Board.—

(1) to make political contributions;

(2) to appoint or remove key managerial personnel (KMP);

(3) [**][1]

(4) to appoint internal auditors and secretarial auditor;

[***][2]

[1] Omitted by the Companies (Meetings of Board and its Powers) Amendment Rules, 2015 vide Notification No. GSR 206 (E) dated 18th March, 2015. Prior to the omission it read as under:

“(3) to take note of appointment(s) or removal(s) of one level below the Key Management Personnel;”

[2] Omitted by the Companies (Meetings of Board and its Powers) Amendment Rules, 2015 vide Notification No. GSR 206 (E) dated 18th March, 2015. Prior to the omission it read as under:

“(5) to take note of the disclosure of director’s interest and shareholding;

(6) to buy, sell investments held by the company (other than trade investments), constituting five percent or more of the paid up share capital and free reserves of the investee company;

(7) to invite or accept or renew public deposits and related matters;

(8) to review or change the terms and conditions of public deposit;

(9) to approve quarterly, half yearly and annual financial statements or financial results as the case may be.”

[3] Inserted vide Notification no. G.S.R. 9(E).dated 04th January, 2017.

[4] Inserted vide Notification no. G.S.R. 08(E).dated 04th January, 2017.

41 responses to “Section 179 of Companies Act, 2013 – Powers of Board”

  1. Hi corporatelawreporter.com owner, Your posts are always on topic and relevant.

  2. Excellent post. I was checking constantly thyis blog and I am impressed!
    Very useful information specially the last part
    :) I care for such information a lot. I was sereking this certain info for a very lolng
    time. Thank you and good luck.

  3. Hello i am kavin, its my first occasion to commenting anywhere, when i read this article i thought i could akso create comment due too this brilliant piesce of writing.

  4. In fasct when somrone doesn’t be aware off then its up to other users that they will assist, so here it occurs.

  5. Excellent web site. A lot of useful information here.
    I am sending it to several buddies ans also sharing in delicious.
    And of course, thank you for your sweat!

  6. URL says:

    … [Trackback]

    […] Read More: corporatelawreporter.com/companies_act/section-179-of-companies-act-2013-powers-of-board/trackback/ […]

  7. cqsZlg4uUn says:

    715188 740856Wow, incredible weblog structure! How long have you been running a blog for? you created running a blog look simple. The entire look of your website is magnificent, neatly as the content material! 428323

  8. It is perfect time to make some plans for the longer term and it’s time to be happy.
    I’ve read this submit and if I could I want to suggest you some attention-grabbing issues or advice.
    Maybe you could write next articles referring to this article.
    I wish to read more issues approximately it!

  9. It’s amazing in favor of me to have a web site, which is beneficial in favor of my experience.
    thanks admin

  10. I read this article fully on the topic of the comparison of
    newest and earlier technologies, it’s amazing article.

  11. I used to be suggested this web site by means of my cousin. I’m no longer positive whether this
    publish is written by him as nobody else know such targeted approximately
    my difficulty. You are incredible! Thank you!

  12. If you are going for finest contents like me, simply visit this site every day because it presents
    feature contents, thanks

  13. I’m really enjoying the design and layout of your site.
    It’s a very easy on the eyes which makes it much more
    pleasant for me to come here and visit more often. Did
    you hire out a designer to create your theme? Excellent work!

  14. Woah! I’m really enjoying the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s very difficult to get
    that “perfect balance” between usability and visual
    appearance. I must say you’ve done a very good job with this.

    Additionally, the blog loads very fast for me on Internet explorer.

    Exceptional Blog!

  15. Bwinbet365 says:

    Hi, every time i used to check webpage posts here early in the dawn, since
    i love to learn more and more.

  16. Hey very nice blog!

  17. Hey, I think your site might be having browser compatibility issues.

    When I look at your website in Firefox, it looks fine but when opening in Internet Explorer, it has some overlapping.
    I just wanted to give you a quick heads up! Other then that, amazing blog!

  18. We’re a group of volunteers and opening a new scheme in our community.
    Your site provided us with valuable information to work on. You’ve done an impressive job and our whole
    community will be grateful to you.

  19. Have you ever considered publishing an ebook or guest authoring on other sites?
    I have a blog based upon on the same subjects you discuss and would really like to have you share some stories/information. I know my subscribers would value
    your work. If you’re even remotely interested, feel
    free to shoot me an e mail.

  20. Great delivery. Great arguments. Keep up the amazing effort.

  21. I love it when folks come together and share thoughts.
    Great blog, stick with it!

  22. I am really impressed with your writing skills and also with the layout
    on your blog. Is this a paid theme or did you modify it yourself?
    Either way keep up the nice quality writing, it’s rare to see
    a nice blog like this one today.

  23. After looking into a few of the blog posts on your web site,
    I truly like your way of blogging. I bookmarked it to my bookmark webpage list and
    will be checking back in the near future. Take a look at my website too and tell me what
    you think.

  24. poker88 says:

    Hello there! Do you know if they make any plugins to help with SEO?
    I’m trying to get my blog to rank for some targeted keywords
    but I’m not seeing very good results. If you know of any please
    share. Cheers!

  25. I was able to find good info from your articles.

  26. Thanks in support of sharing such a nice opinion, paragraph is fastidious, thats why i have read it completely

  27. Write more, thats all I have to say. Literally, it seems as though
    you relied on the video to make your point. You clearly know what youre talking about, why waste
    your intelligence on just posting videos to your blog when you could be giving us something informative to read?

  28. นักลงทุนและนักพนัน ที่กำลังค้นหา เล่นสล็อตออนไลน์ ครบทุก ค่าย SLOTกับแตกง่ายของเรามีเว็บเดิมพันออนไลน์ slotจากค่าย พีจีSLOT เว็บใหญ่ ค่าย XOSLOT เว็บใหม่ ,
    สล็อต joker เว็บใหญ่ ,
    SUPERSLOT แล้วก็ค่ายดังอื่นๆรวมเป็น เกมคาสิโน ต่างๆที่จะทำให้นักพนันหรือสมาชิกทุกคนได้เข้ามาร่วมบันเทิงใจได้กำไรจากPG
    SLOT XO SLOT SLOTJOKER SLOT SUPER สล็อตamb เว็บตรง , pragmatic slot แตกหนัก เหล่านี้
    ร่วมลงทะเบียนสมัครสมาชิกได้เพียงไม่กี่ขั้นตอนก็สามารถร่วมหาเงินกับ
    เว็บไซต์เดิมพัน
    GAME CASINO ของเราได้แล้วซึ่งมีการให้บริการสล็อตออนไลน์ ที่มีความมากมายหลายจะทำให้นักพัฒนาทุกคนได้รับคุณภาพสำหรับการ ลงทุน
    ผลตอบแทนที่ยอดเยี่ยมอย่างไม่ต้องสงสัยมีโปรสล็อตออนไลน์ลงทะเบียนสมัครสมาชิกใหม่แจกกันทุกท่านแบบเต็มๆรวมทั้งยังสามารถระบบฝากถอนAUTO ฝากถอนไม่มีขั้นต่ำ โดยไม่จำเป็นจำเป็นต้องคอย Admin ผู้ให้บริการซื้อใหม่ที่มีทุนน้อยสำหรับการหาเงิน
    สล็อตPG xoslot JOKER GAMING ของพวกเราก็สามารถเข้าร่วมหาเงินได้ด้วยทุนอย่างต่ำเพียง
    1 บาทแค่นั้นก็เลยเป็นผู้ให้บริการที่สามารถตอบปัญหาทุกความอยากได้ของนักพนันในยุคปัจจุบันได้เป็นอย่างดี
    เรามีการอัพเดท สล็อตออนไลน์ จากค่ายดังอย่างPRAGMATIC AMB SLOT
    มาให้บริการกับนักการพนันทุกๆท่านได้เข้าไปร่วมบันเทิงใจร่วม ร่วมสนุกกันอย่างสบายด้วยระบบเกมเหล่านี้ที่ถูกพัฒนามาให้งดงามตอบปัญหาทุกสิ่งที่มีความต้องการจึงไม่แปลกที่จะมีคนมากมายเข้ามาร่วมลงทะเบียนสมัครสมาชิกกับSLOT ONLINE เว็บตรง ถอนเงินไม่มีขั้นต่ำ
    ฝากเงินไม่มีขั้นต่ำ เริ่มต้นขั้นต่ำเพียง หนึ่งบาท ของเรากันเยอะมากๆส่งต่อความสนุกถึงยังหน้าบ้านแค่เพียงมีโทรศัพท์เคลื่อนที่สล็อตเว็บตรง ฝาก-ถอน ไม่มีขั้นต่ำ เริ่มต้นขั้นต่ำเพียง หนึ่งบาท เท่านั้นของพวกเราก็สามารถเข้าถึงได้อย่างง่ายดายตลอด 24 ชั่วโมงจ่ายเต็มแบบไม่กั๊กจัดเต็มแบบจุใจอย่างแน่นอนฝากถอนอัตโนมัติ ฝาก-ถอน ไม่มีขั้นต่ำง่ายเพียงไม่กี่นาทีก็สามารถระบบฝากถอนออโต้
    ฝากถอน ไม่มีขั้นต่ำโปรโมชั่นต่างๆ มากมาย เช่น
    โปรสมัครสมาชิกใหม่ 100%,โปรสมัครสมาชิกใหม่ โบนัส
    50%,โปรฝากเงินครั้งแรก 20%,โปรฝากเงินครั้งแรก
    โบนัส 10%,โปรแนะนำเพื่อน โบนัส
    10%,โปรคืนยอดเสีย โบนัส 10%,โปรทุกยอดฝาก โบนัส 10% และ โปรสล็อตในSLOT ONLINE เว็บตรง ไม่มีขั้นต่ำในการฝากถอน เริ่มต้นขั้นต่ำเพียง หนึ่งบาท เท่านั้นของเราได้แล้วซึ่ง บาคาร่า SA
    GAMING , sexy gaming , บาคาร่า AG , evolution , บาคาร่า PRETTY
    , บาคาร่า DERAM ที่ให้บริการอยู่ในpg สล็อต สล็อต xo โจ๊กเกอร์สล็อต SUPER SLOT สล็อตamb ของเรานั้นบอกเลยว่ามีความปลอดภัยลำดับสูงสุดจ่ายรางวัลโดยตลอดแล้วก็เที่ยงตรงทำให้นักพนันใน แตกง่าย เกมสล็อตออนไลน์ สุดแล้วแต่บ่อยครั้งที่สุดของเรานั้นติดใจและก็เข้ามาร่วมเดิมพันกันไม่น้อยเลยทีเดียว อย่ารอช้า เกมสล็อตออนไลน์ในที่เรามีให้บริการนั้นมีล้นหลามให้ทุกท่านได้เลือกเล่นแตกง่ายล้วนแต่เป็นเกมบาคาร่าออนไลน์ sa baccarat , baccarat sexy , ag บาคาร่า , EVO BACCARAT , baccarat
    pretty , DREAM บาคาร่าซึ่งสามารถหาเงินได้ไม่ยากเป็นslot pgslot superจากค่ายดังอย่างสล็อตพีจีซึ่งรวบรวมมาเอาไว้ในแตกง่ายสล็อตPPให้ทุกท่านได้เข้าไปร่วมเบิกบานได้ทำเงินกันอย่างสบายกระบวนการทำผลกำไรจากสล็อต ASKMEBETนั้นง่ายดายมากเลยเพียงแต่ทุกท่านได้เล่าเรียนบทความต่างๆพื้นที่เว็บสล็อตเว็บตรง
    ฝาก-ถอน ไม่มีขั้นต่ำ เริ่มต้นขั้นต่ำเพียง 1 บาท เท่านั้น

  29. I was able to find good advice from your articles.

  30. Hokibet69 says:

    I’m impressed, I must say. Seldom do I encounter a blog that’s both educative and
    entertaining, and without a doubt, you’ve hit the nail on the head.
    The issue is something that not enough people are speaking intelligently about.
    Now i’m very happy I found this in my search for something relating to this.

  31. Excellent blog here! Also your web site loads up very fast!
    What web host are you using? Can I get your affiliate link to your host?
    I wish my website loaded up as quickly as yours lol

  32. hoki178 says:

    I am truⅼy grateful to the owner of this site whօ has shared this impressive article ɑt at this
    plaсe.

  33. constantly i used to read smaller articles that as well clear their motive,
    and that is also happening with this piece of writing which I am reading here.

  34. Wow, marvelous blog layout! How long have you been blogging for?

    you make blogging look easy. The overall look
    of your site is wonderful, let alone the content!

  35. For most up-to-date news you have to visit world-wide-web and
    on world-wide-web I found this web page as a most excellent web
    page for hottest updates.

  36. It is the best time to make some plans for the future and it’s
    time to be happy. I’ve learn this submit and if I may just I desire to
    recommend you few attention-grabbing things or
    advice. Maybe you could write subsequent articles regarding this article.
    I want to learn even more issues about it!

  37. What’s up, I wish for to subscribe for this web site to take most up-to-date updates, thus where can i
    do it please help.

  38. Terrific post however , I was wondering if you could write a
    litte more on this subject? I’d be very grateful if you could elaborate a little bit more.
    Cheers!

  39. I do not even know how I ended up here, but I thought this post was great.

    I don’t know who you are but definitely you’re going to a famous blogger if you
    are not already ;) Cheers!

  40. Appreciating the hard work you put into your site and in depth information you
    offer. It’s great to come across a blog every once in a
    while that isn’t the same out of date rehashed material.
    Great read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

  41. WOW just what I was looking for. Came here by searching for aufstellpool oval

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates