Directors - Appointment, Duties, Rights, Powers, Liabilities

Directors - Appointment, Duties, Rights, Powers, Liabilities
of 10
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
  Course OverviewEbooksAbout UsContact UsAsk UsPublish Your  Article      BBA|MANTRA HOMENOTESPROJECTSENOTES  VIDEO LECTURESBLOGRECOMMENDED BOOKSINTERNSHIPCOMPETITIVE EXAMSABBREVIATIONSREQUEST A TOPIC  A director is the member of the Board of Directors.“Director means a director appointed to the board of a company” sec 2(34) According to the companies act states the board of directors in relation to acompany refers to a collective body of the directors of the company. Sec 2(10) Meaning of Director    A director is one of those persons, who are responsible for directing, governingand controlling the policy or management of a company. All directors collectivelyare called as Board of Directors or Board. They are the top administrative organ Directors – Appointment, Duties, Rights, Liabilities – Company Law Subscribe now and be the first to receiveall the latest updates! Subscribe Now We don't spam. We Educate. Get All Notes in Your Inbox Name  Email   Advertising Management (20) Articles (238)Banking and Insurance (10) CHOOSE YOUR SUBJECT  and the company can operate only through them. They are the brain of theorganization responsible for all policy making and decision making activities.   Appointment of Directors   The following guidelines have been established by the companies act regardingthe appointment of directors. The articles of a company may list the names of the first directors in its articlesof association, if no names are mentioned in the articles, the subscribers of thememorandum become the first directors.Directors can be appointed by the initial members of the company at its firstgeneral meeting. A company may appoint an additional director if it needs. An Alternate Director may be appointed by the board during the absence of adirector for a period not less than 3 months A vacant position of director can be filled by the members of the board ontemporary terms.Nominee Director – It refers to any person nominated as director by a financialinstitution or a government body who holds shares in the company. He must beappointed by the company.On complaint against oppression or mismanagement in a company, the tribunalmay order the company to appoint the required number of directors as directedby the Tribunal. A director may be appointed by the central government under certaincircumstances. Blog (19)Business & Entrepreneurship (6)Business Communication (15)Business Environment (21)Business Ethics (1)Business Law (1)Business Statistics (49)Company Law (14)Computer Applications (9)Consumer Behaviour  (33)Cost Accounting (3)E-commerce (8)Entrepreneurship (11)Financial Accounting (2)Financial Management (23)Financial Services (19)Human Resource Management (21)Income Tax (2)International Business (13)Investment Analysis & Portfolio Management (9)IT & Technical Skills (5)Macro-Economics (10)Management Accounting (5)Management Information System (4)Managerial Economics (2)Marketing & Advertising (7)Marketing Management (18)Marketing of Services (6)Micro-Economics (2)Operations Management (2)Organizational Behaviour  (7)Personal Finance (2)Principles of Management (9)Project Management (11)   A director may be appointed by a single transferable vote system or cumulativetransferable vote system   Powers of Directors   Statutory Powers of Directors Powers must be exercised by Board of Directors in the general meeting of thecompany by passing a resolution.The power to make call on shares in respect of unpaid money.The power to authorize lack of sharesThe power to issue debentures, whether in or outside india.The power to invest in fundsThe power to borrow money otherwise than on debenturesThe power to make loans or give guarantee in respect of loans. But a bankingcompany does not require any resolution by the board.The power to approve the financial statement and board’s report.The power to diversify the business of the company.The power to approve amalgamation, merger or reconstruction.The power to take over a company or acquire a company or substantial stake inanother company. Other powers – Power to fill casual vacancy 9sec 161) Power to appoint the first auditor of the companyPower to make political contribution.Power to appoint alternate directors. (sec 161)Power to appoint additional directors. (sec 161) Projects and Presentations (35)Public Finance (11)Research Methodology (9)Rural Marketing (1)Strategic Management (14) IRDAI – Insurance Regulatory Development andAuthority of India  April 1, 2018 Learning Theories – Cognitive, Conditioning,Social Learning Theories March 31, 2018 Leadership Styles – Types of Leadership Styles March 27, 2018 Inventory, Inventory Control – Theory Notes January 13, 2018 Organization Design – Types of OrganizationStructure January 2, 2018 Marketing Information System – Components,Importance December 20, 2017 Budget, Budgeting, Budgetary Control December 20, 2017 Resistance to change – Levels, Overcoming Resistance December 18, 2017 RECENT POSTS  Power to declare interim dividend. ( 123(3))Power to appoint or remove key managerial personnel (KMP)Power to declare solvency , where the company winds up voluntarily.Power to recommend the rate of dividend on the shares of the companysubjected to approval by shareholder of the company Powers only with a resolution – To sell or lease any asset of the companyTo allow time to the director for the repayment of the loanTo borrow money in excess of paid up capital and free reservesTo appoint a sole agent for more than 5 yearsTo issue bonus shares and for reorganization of share capitalTo contribute money for charitable purposes exceeding Rs. 50,000 or 5% of theaverage profits of 3 years whichever is greater  Managerial powers of Directors The Board acts in the interest of shareholders with the following powers – Power to contract with the third partyPower to recommend dividendPower to allot, forfeit or transfer shares of companyPower to take decision regarding terms and conditions for the issue of debenturesPower to form policy and to issue instructions for the efficient running of thebusinessPower to appoint Managing Director, Manager, Secretary of the company.Power of control and supervision of work of subordinates   Duties of Directors Decision Making – Types, Process, Techniques,Importance December 18, 2017 Ination Accounting – Meaning, Techniques –Short Note December 12, 2017 Apparel Industry – Pantaloons- Analysis,Marketing & Product DevelopmentSituational Analysis of Apparel Industry in IndiaEffectiveness of Recruitment and SelectionsystemSales Promotion Activities of AutomobileIndustry in IndiaConsumer Behaviour Solved Case Study MatinKhanHome Automation – Advertising ManagementProject LATEST PROJECTS


Apr 16, 2018
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks