Professional Documents
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Company Management BOD V: - GM of Shareholders
Company Management BOD V: - GM of Shareholders
BOD
v
• GM of Shareholders
• AGM & EGM
• Adolf A Berle - Professor E. Merrick Dodd
Dialogue – On the concept of the Corporation -
Joseph L. Weine
Chapter XI
Appointment
&
Qualifications
of
Directors
Board of Directors
(b)
(a) Has failed
has not to repay
filed financial statements / annual returns for
►Deposits accepted
any continuous by itof
period / 3 financial years; or
►Pay interest thereon /
►To redeem any debentures on the due date /
►Pay interest due thereon /
►Pay any dividend declared &
►Such failure to pay /redeem continues for one year
/more
• No Person Shall be eligible to be re-appointed as
a director of that Co. / appointed in other Co.
for a period of 5 years from the date on which
the said Co. fails to do so.
Conditions to be Fulfilled for the Appointment of A MD /
WTD /A Manager without the Approval of CG
SCHEDULE V (See SS 196 & 197)
No person shall be eligible for appointment
as a
Managing Director
Whole-time director or
Manager (hereinafter referred to as
managerial person)
Of a Co. unless he satisfies the following
conditions, namely:
(a) He had not been sentenced to imprisonment for any period, /
to a fine exceeding Rs. 1000, for the conviction of an offence
under any of the following Acts, namely:—
(i) Indian Stamp Act, 1899 (2 of 1899);
(ii) Central Excise Act, 1944
(iii) Industries (Development and Regulation) Act, 1951
(iv) Prevention of Food Adulteration Act, 1954
(v) Essential Commodities Act, 1955
(vi) Companies Act, 2013;
(vii) Securities Contracts (Regulation) Act, 1956
(viii) Wealth-tax Act, 1957
(ix) Income-tax Act, 1961
(x) Customs Act, 1962
(xi) Competition Act, 2002
Application for allotment of DIN - Sec. 153
Every individual intending to be appointed as director -
Shall make an application for allotment of DIN to the CG -
Such form & manner & along with such fees as may be
prescribed.
(a) In any notice of the Res. given to members of the Co., state the
fact of the representation having been made; &
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