Advertisements
Advertisements
Question
Explain the following Term/Concept:
The Board of Directors
Solution
(1) The directors are the elected representatives of the shareholders who are appointed for directing, governing, or controlling the policy or management of the company. The directors exercise their powers collectively as a Board. Thus, the Board of Directors is the policy-framing and decision-making organ of the company.
(2) The top-level management of the company comprises the Board of Directors which is a group of Directors. The Board of Directors is the highest body of the company with extensive powers, comprising of several Directors who are experts in different fields and appointed as per the provisions of the Companies Act. The Board Of Directors of the company is assisted by several persons such as managing director, company Secretary Chief Financial Officer, etc. to assure efficient and effective management and administration of the company.
APPEARS IN
RELATED QUESTIONS
Write a word or a term or a phrase which can substitute the following statement:
The organization with a distinct features of separate ownership and management.
Write a word or a term or a phrase which can substitute the following statement:
The body of elected representatives of company.
Write a word or a term or a phrase which can substitute the following statement:
This KMP signs document of the company requiring authentication by the company.
Answer in one sentence.
Who is the officer responsible for the Company’s financial plan?
Answer in one sentence.
Who provides guidance to the Board of Directors?
Explain the following Term/Concept:
Managing Director.
Explain the following Term/Concept:
Non-Executive Director.
Explain the following Term/Concept:
Company Secretary
Explain the following Term/Concept:
Secretarial Standard
Study the following case/situation and express your opinion.
Mr. A is a commerce graduate. He has vast experience in the field of finance and the financial market. He wishes to become director of PQR co Ltd :
(a) Is he required to obtain DIN?
(b) Can PQR Co. Ltd. object to his directorship on lack of specialized qualification
(c) If he is appointed as director of PQR Co Ltd, is he entitled to remuneration?
Study the following case/situation and express your opinion.
Mr. Z is a member of Institute of Company Secretaries of India:
(a) Can Mr. Z be appointed as pro-tem Secretary of LMN Ltd. which is under formation?
(b) Can Mr. Z work as a secretarial Auditor?
(c) Mr. Z wishes to be employed as whole time Secretary in companies ABC Ltd. and OPC Ltd. Is he allowed?
Distinguish between the following:
Director and Managing Director
Distinguish between the following:
Managing director and Manager
Distinguish between the following:
Managing Director and Whole Time Director
Answer in brief:
State any four powers of Managing Directors.
Justify the following statement:
DIN helps investors of the company.
Justify the following statement:
Secretarial Standards should be in conformity with the Act.
Write a word or a term or a phrase which can substitute the following statement.
This KMP signs document of company requiring authentication by company.
Write a word or a term or a phrase which can substitute the following statement.
This KMP signs document of company requiring authentication by company.
