Company law provisions related to Board and Board meetings
As you aware the capital of the company is contributed by the shareholders, but the responsibility of managing a company is handed over to a professional body of people called Board Of Directors. Board of Directors are appointed by the shareholders jointly.
Companies act contains several provisions for the appointment, remuneration, decision making process, removal etc of directors.
APPOINTMENT DIRECTORS (Sections 149-172)
149. Company to have Board of Directors
150. Manner of selection of independent directors
151.Appointment of director elected by SSD
152. Appointment of directors (R/D-NRD)
153. Application for allotment DIN
154. Allotment of Director Identification Number
155. Prohibition to obtain more than one DIN
156. Director to intimate DIN
157. Company to inform DIN
158. Obligation to indicate DIN
159. Punishment for contravention
160. Candidature for directorship
161. Appointment of additional director, alternate director and nominee director
162. Appointment of directors to be voted individually
163. principle of proportional representation
164. Disqualifications for appointment of director
165. Number of directorships
166. Duties of directors
167. Vacation of office of director
168. Resignation of director
169. Removal of directors
170. Register of directors and key managerial personnel
171. Members’ right to inspect
172. Punishment
MEETINGS OF BOARD (Sections 173-195)
173. Meetings of Board
174. Quorum for meetings of Board
175. Passing of resolution by circulation
176. Defects in appointment of directors not to invalidate actions taken
177. Audit Committee
178. Nomination and Remuneration Committee and Stakeholders Relationship Committee
179. Powers of Board
180. Restrictions on powers of Board
181. Company to contribute to charitable funds, etc.
182. political contributions
183. contributions to national defence fund, etc.
184. Disclosure of interest by director
185. Loan to directors, etc.
186. Loan and investment by company
187.Investments of company to be held in its own name
188. Related party transactions
189. Register of contracts or arrangements in which directors are interested
190. Contract of employment with MD/WTD
191. Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares
192. non-cash transactions involving directors
193. Contract by One Person Company
Recent Posts
See AllThe formula A=P×(1+r×t)A=P×(1+r×t) is used to calculate the total amount AA accumulated after applying simple interest. This formula...