Prasenjit Ghosh. Rpllno. 50
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Directors are responsible for managing a company's affairs as the company is an artificial entity that can only act through human agents. A company must have a board of directors. Directors can be appointed by shareholders, other directors, or the central government. They must meet qualification requirements and can be removed by shareholders, government or tribunal in certain circumstances. Directors have general powers listed in the articles as well as specific powers that must be exercised during board meetings, such as making share calls, issuing debentures, and investing company funds. Management of a company is crucial and requires directors to oversee its operations.
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The document discusses the appointment, roles, and removal of company directors. It states that directors serve as trustees, agents, and partners. They are responsible for administering the company and making policy decisions. Directors can be appointed through election, board nomination, government nomination, or share qualifications. They can be removed by shareholders, government order, or courts. The document outlines the powers and responsibilities of directors in managing company affairs according to law.
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Directors notes for companies act 1956
if u want the notes just giv ur mail id in comments box
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short type notes just for revision
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2. By the central government on recommendation from the high court if the director is found unfit for office based on grounds like oppression or mismanagement.
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if u want the notes just giv ur mail id in comments box
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short type notes just for revision
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3) Company winding up and liquidation can occur voluntarily or by order of the tribunal for reasons like inability to pay debts. Liquidators manage the process of realizing assets and distributing surplus.
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The Board summarizes the key details from the document:
1) Arun Bansal and his wife filed a criminal complaint against Herdillia Unimers Ltd. claiming violation of Section 73 of the Companies Act for delayed refund of their application money for shares/debentures.
2) Herdillia Unimers Ltd. contended that as Bansals were not allotted shares/debentures and had received full refund including interest, no offence was committed.
3) The Rajasthan High Court quashed the criminal proceedings, stating that as Bansals were not shareholders, they were not competent to file a complaint in court against the company.
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This document provides an overview of directors under the Companies Act of 1956 in India. It defines directors as individuals who collectively make up the board of directors and carry out the business of the company. It discusses the appointment, removal, duties and types of directors. It also outlines qualifications for directors, including share ownership requirements, as well as prohibitions such as bankruptcy. The document summarizes the roles and responsibilities of directors in managing a company in accordance with the Companies Act.
Company law
The document defines directors and boards of directors, and outlines their appointment, qualifications, duties, powers, and liabilities according to company law. Key points include: Directors are appointed by the articles of association to manage company affairs; the board must have at least 3 directors for public companies and 2 for other companies; directors can be appointed through various modes including by shareholders, boards, and government; directors have certain qualifications and duties of care, and are subject to disqualification; boards exercise power derived from articles of association and companies acts.
Directors duties, appointment and its type
This document discusses various types of directors under the Companies Act 2013. It defines a director and explains that a board of directors collectively manages a company. It outlines the duties and liabilities of directors. It then describes different types of directors like independent directors, first directors, resident directors, woman directors, small shareholder directors and alternate directors. It provides criteria for appointment and roles of independent directors as well as obligations for listed companies regarding independent directors.
Independent directors
The Companies Act 2013 has introduced significant changes in the composition of the board of directors of a company. This White Paper contains the description of some provisions related to Independent Directors which have been modified in Companies Act 2013.
Why directors’ duties are relevant to corporate insolvency
Directors' duties are relevant to corporate insolvency for several reasons. If a company becomes insolvent, the powers of those involved, including directors, can be severely restricted. This means any actions by directors that breached their duties under the Companies Act 2006 may be difficult to ratify. The liquidator can bring proceedings against directors on behalf of the company for any breaches of duty. Duties vary between executive and non-executive directors, with executive directors having duties relating to their employee status in addition to their director status. However, both executive and non-executive directors owe the same standard of duty to help guide and monitor company management.
Management and board governance
The document discusses various aspects of board governance and management. It addresses the following key points in 3 sentences:
It discusses the obligation to constitute boards of directors, the need for strategic oversight and ensuring integrity of financial reporting. It addresses minimum and maximum limits for number of directors, requiring at least one resident director in India. The document also covers attributes of independent directors such as their definition, material transactions, and limits on number of directorships any one individual can hold.
Business law....
The document discusses the role and responsibilities of directors of a company under business law. It defines a director as an officer of the company who is responsible for directing its affairs. Directors must meet certain qualifications like being a natural person and holding requisite shares. They have fiduciary duties to act in good faith and in the best interests of the company. Key responsibilities of directors include managing company affairs, disclosing conflicts of interest, convening shareholder meetings, and approving financial statements. Failure to meet filing obligations can result in directors being prosecuted or disqualified from company management.
Directors: Duties, responsibilities, remuneration
The presentation gives an overview of duties, responsibilities of Directors, Independent Directors, Managerial remuneration, definitions of Key managerial personnel, related party etc.
Legal Aspects of Business
The document discusses the position, powers, and duties of directors under the Companies Act of 2013 in India. It begins by explaining what a director is and the qualifications required to become one. It then outlines the duties of directors which include acting in good faith and in the best interests of the company. Directors must exercise reasonable care, skill, and judgment. They cannot involve themselves in situations where their personal interests conflict with the company's interests. The duties aim to encourage prudent management while also ensuring directors prioritize the company's interests over their own. Independent directors make up at least one-third of board members for listed companies and have additional oversight responsibilities.
Management of business
The document defines key terms related to management of a company's board of directors. It outlines requirements for public and private companies regarding the minimum and maximum number of directors. It also discusses rules around independent directors, women directors, appointment and resignation of directors, and disqualifications. Key points include that public companies must have at least 3 directors, private companies can have 1-15 directors, and listed companies must have at least 1 independent director and 1 woman director.
Managerial Remuneration
This document provides an overview of key provisions related to the appointment of managing directors, whole-time directors, and managers under the Companies Act of India. Some key points include:
1) A managing director must be a company director entrusted with substantial management powers. A whole-time director devotes their whole time to company affairs.
2) Appointments must follow certain rules, such as the appointee already being a company director. Public companies and subsidiaries of public companies require board and shareholder approval.
3) Certain large companies must have a managing/whole-time director or manager. No more than one person can be appointed as manager, while a company can have multiple managing directors
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Prasenjit Ghosh. Rpllno. 50
- 1. CompanyManagement Directors PresentedBy, PrasenjitGhosh Sec. C , Roll No. 50 Ist sem. EIILM
- 2. CONTENT. LEGAL POSITION OF DIRECTORS QUALIFICATION OF DIRECTORS APPOINTMENT OF DIRECTORS REMOVAL OF DIRECTORS SHARE QUALIFICATION ADDITIONAL ALTERNATE DIRECTORS DIRECTOR’S POWER
- 4. In reality, Directors are the person who directs, conduct, manage or superintend a company’s affairs
- 6. Directors are not agents for the individual shareholders, they are the agents of the company-the artificial person
- 11. By shareholders in general meetings.
- 12. By board of directors.
- 17. The alternate director shall not hold office for a period longer than that permissible to original director and shall vacate office when the original director returns to state.
- 19. Powers which can be exercised only in board’s meeting. a. Power to make call on shareholders in respect of money unpaid on their shares. b. Power to issue debentures. c. The power to invest company’s funds.
- 20. CONCLUSION Thus we can conclude company management is very important in our life and without the directors it is not possible to manage a company.
- 21. THANK YOU