DIRECTORS –APPOINTMENT,POWER AND LEGAL POSITION

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DIRECTORS –APPOINTMENT,POWER AND LEGAL POSITION




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Presentations text content in DIRECTORS –APPOINTMENT,POWER AND LEGAL POSITION

Slide1

DIRECTORS –APPOINTMENT,POWER AND LEGAL POSITION

Slide2

DIRECTOR

A DIRECTOR IS A PERSON WHO IS RESPONSIBLE FOR DIRECTING OR CONTROLLING THE POLICY OR MANAGEMENT OF A COMPANY.

Slide3

BOARD OF DIRECTORS

The ‘BOARD’ is the apex governing body of a company. A company board is its ‘brain’, all the companies actions are planned by its Board.

Slide4

Qualification of Directors

A director must acquire the qualification shares.

A director must give written consent.

Only individuals can be directors.

Slide5

Number of Directors

A public company shall have at least three directors.

Every other company shall have at least two directors.

Slide6

Appointment of Directors

By the Signatories of Memorandum of association

By the Shareholders in the General Meeting

Appointment by Board of Directors

Appointment by Proportional Representation

Appointment by Third Parties

Appointment by Central Government

Slide7

Legal Position of Directors

Directors as a Trustee

Directors as Agents of Company

Directors as a Managing Partner of the Company

Directors as an Officer of the Company

Directors as an Employee of the Company

Slide8

Vacation of Office by Directors

On not Taking Qualification Shares

On being Adjudged of Unsound Mind

On being Adjudged as Insolvent

On being Imprisoned

On Removal from Office

On becoming Disqualified

Slide9

Powers of Directors or Board of Directors

General Powers

Inspect the books of account of the company

Issue notices of the company’s meetings

Receive his remuneration

Attend the meetings of the company’s Board of Directors

Specific Powers

Issue debentures

Invest the funds of the company

Make loans on behalf of the company

Slide10

Duties of Directors

Inspecting the Prospectus

Signing the Prospectus

Presenting the Annual Statement

Holding the Statutory Meeting and Forwarding the Statutory Report

Convening of General Meeting

Declaring and Paying Dividend

Presenting the Annual Accounts

Sending Copies to Registrar

Slide11

Liabilities of Directors

Liability Towards Company

Liability of

Ultra- Vires

Acts

Liability for Negligence

Liability for Fraud

Liability Towards Outsiders

Liability for

Ultra-

Vires Acts

Liability as Agents

Liability in Relation to Allotment

Slide12

Thanks…


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