Section 293 of the Companies Act, 2013
Section 293 of the Companies Act, 2013 is not applicable because Section 293 belongs to the Companies Act, 1956 and was repealed when the Companies Act, 2013 came into force.
Explanation:
Section 293 of Companies Act, 1956 dealt with the powers of the Board of Directors to borrow money, sell assets, etc., requiring shareholders' approval beyond certain limits.
Under the Companies Act, 2013, these provisions are now covered under different sections, primarily:
Section 180 (Certain powers of Board of Directors to be exercised only with the consent of the company by special resolution, such as borrowing money, selling undertaking, etc.)
Section 179 (General powers of Board)
And other relevant sections for specific powers.
Summary:
There is no Section 293 in the Companies Act, 2013.
For borrowing, selling company assets, or creating charges, refer to Section 180 and Section 179 of Companies Act, 2013.
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