Borrowing limit for a pvt. co.

Since we all know Section 180 is exempted for private companies???
In such circumstance, if a Private Co. wants to borrow money, can it borrow any amount of money just by passing a simple board resolution under section 179. If not, What is the limit and compliances for borrowing by a private company?

Further, what circumstances (and which section) will bar or restrict a private company from borrowing beyond a certain limit, if there is any limit??