Advertisements
Advertisements
प्रश्न
Justify the following statement:
Directors exercise their powers and authorities collectively as a Board.
उत्तर
(i) Although the shareholders are the owners they cannot manage their company. Following the principle of democracy, they elect their representatives from amongst them, called the Directors, at the Annual General Meeting. They vest the Directors with the powers of managing the affairs of the company. Directors are the men of commercial skill and business tact. They are authorised by the shareholders to utilize the capital, acquire the assets, and appoint the personnel to conduct the affairs of the company for the benefit of the shareholders of the company.
(ii) The directors exercise their powers and take decisions collectively as a Board. They cannot exercise their powers and take decisions in their individual capacity. The Board of Directors is the policy-framing and decision-making organ of the company. As agents of the company, the directors must act within the scope of their authority and in the name of the principal, i.e. company. They would be personally liable if they take decisions in their own name and in their individual capacity. Their acts are not binding on the shareholders or on each other unless the Articles provide so.
APPEARS IN
संबंधित प्रश्न
Select the correct answer from the option given below and rewrite the statement:
___________ looks after the management of a company.
Select the correct answer from the option given below and rewrite the statement:
The Directors take decisions at ______ meeting.
Select the correct answer from the option given below and rewrite the statement:
According to Section 167(1) ((b) of the Companies Act, 2013 if a director absents himself from all the meetings of the Board. for a period of ______ months or more. with or without the leave of the Board, he shall be deemed to have vacated his office.
Select the correct answer from the option given below and rewrite the statement:
Every company except CFO and the small company shall hold minimum ______ Board Meetings in each year.
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Directors | 1) At least 2 Directors |
| b) Absenteeism of Director in Board Meetings | 2) At least 3 Directors |
| c) Public Company | 3) Disqualification of director |
| d) Private Company | 4) Representatives of shareholders |
| e) Notice of a Routine Board Meeting | 5) 21 clear days |
| 6) 7 days | |
| 7) 70 days | |
| 8) Representative of public | |
| 9) At least 20 directors | |
| 10) At least 30 directors |
Write a word or a term or a phrase which can substitute the following statement.
An employee of a company who provides guidance and advice to the Board of Director about business matters.
Write a word or a term or a phrase which can substitute the following statement.
A meeting of all the directors of a company.
State whether the following statement is true or false:
Company Secretary need not attend the board meetings.
Select the correct option from the bracket:
| Group A | Group B |
| Duty of directors | ______________ |
Attempt the following.
Draft the notice and agenda of routing board meeting.
Justify the following statement:
The secretary has to correspond with directors on an important occasion
Justify the following statement:
The Board of Directors are the elected representatives of the shareholders.
Answer in brief:
What are the points to be considered by a secretary while corresponding with the directors?
Explain the following term/concept:
Initiative
Explain the following term/concept:
Politeness
Correct the underline word and rewrite the following statement:
Secretary is a elected representative of the shareholders.
