law: Companies Act, 2013 
  179.
  
    Powers
  
  of Board.
  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 there under, 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.
  1.     
  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:
  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.
  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.
  1.     
  2.     
  3.     
  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.