If Company desires to borrow money and the money to be borrowed together with the money already borr...........

Companies Act-Phase (I & II) Board-powersandMeetings

If Company desires to borrow money and the money to be borrowed , together with the money already borrowed by the company, will exceed aggregate of its Paid up share capital and free reserves, consent of :

Shareholders by passing Special resolution in General meeting will be required

Shareholders by passing ordinary resolution in General meeting will be required

Consent of Managing Director is required

Consent of Chairman of the company is required

None of the above

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Explanation:

As per section 179 of Companies Act, 2013, in case the Company wants to borrow money and the money to be borrowed , together with the money already borrowed by the company, will exceed aggregate of its Paid up share capital and free reserves, consent of Shareholders by passing Special resolution in General meeting will be required