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As per Sec 179(3)(f) of Companies Act,2013, the power to grant loan shall be exercised by the Board by means of a resolution passed ata duly convened meeting. Does that imply that an NBFC engaged in the business of granting loans is required to pass a board resolution each and every time while sanctioning a loan to any person/body corporate?

Section 179- Powers of Board.

Posted By: Kanika gupta 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    Akansha

Please pass a single resolution for authorizing the granting of loans .Provisions of section 186 doesn’t applies to NBFC

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