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Certain powers to be exercised by Board only at meeting.

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..... e Board: (a) the power to make calls on shareholders in respect of money unpaid on their shares; [1] [(aa) the power to authorise the buy-back referred to in the first proviso to clause (b) of sub-section (2) of section 77A;] (b) the power to issue debentures; (c) the power to borrow moneys otherwise than on debentures; (d) the power to invest the funds of th .....

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..... ompany with another banking company on such conditions as the Board may prescribe, shall not be deemed to be a borrowing of moneys 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 (c) of sub-section (1) shall apply to borrowings by a banking company from other banking companies or from the Reserve Bank of India, .....

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..... use (d) of sub-section (1) shall specify the total amount up to which the funds may be invested, and the nature of the investments which may be made, by the delegate. (4) Every resolution delegating the power referred to in clause (e) of sub-section (1) shall specify the total amount up to which loans may be made by the delegate, the purposes for which the loans may be made, and the maximum amou .....

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