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

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) to take note of appointment(s) or removal(s) of one level below the Key Management Personnel; Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here

(4) to appoint internal auditors and secretarial auditor;

(5) to take note of the disclosure of director’s interest and shareholding;Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here

(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;Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here

(7) to invite or accept or renew public deposits and related matters;Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here

(8) to review or change the terms and conditions of public deposit;Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here

(9) to approve quarterly, half yearly and annual financial statements or financial results as the case may be.Omitted vide Notification No. G.S.R. 206 (E) dated 18th March, 2015. To view the notification,Click Here