What are the responsibilities of the Board in case ongoing projects are undertaken by the company?

What are the responsibilities of the Board in case ongoing projects are undertaken by the company?

In case of ongoing projects, the major responsibilities ofthe Board, inter-alia, include:
(i) identification of the ongoing projects;
(ii) year-wise allocation of funds;
(iii) transferring the unspent money to a separate bank
account as prescribed under sub-section (6) of section135;
(iv) monitoring the implementation of the projects with
reference to the approved timelines and year-wise
allocation; and
(v) making modifications, if any, for smooth
implementation of the projects within the overall
permissible time period.

Posted on: 2 years ago