Apart from doing business in form of company, there are other ways of doing business also like partnership which is most preferred. However, there are some demerits of partnership when business start going down. That is why a concept was introduced having the benefits of company as well as partnership and which is called Limited […]
Not-for-profit organizations are types of organizations that do not earn profits for its owners. All of the money earned by or donated to a not-for-profit organization is used in pursuing the organization’s objectives and keeping it running. Typically, organizations in the non-profit sector are tax-exempt charities or other types of public service organizations, and as such, […]
The Companies Act, 2013 has separate section for auditor related all the provisions, implying that an auditor has important place in a company. Auditor is per responsible for checking the accuracy financial part of company. I have already covered the provision of appointment of auditor in my article https://taxguru.in/company-law/auditor-appointment-companies-act-2013.html. Many times, due to some reason, […]
A company secretary is a senior position in a private sector company or public sector organisation. The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. The company secretary ensures that an organisation complies […]
As per Wikipedia The chief financial officer (CFO) is officer of a company that has primary responsibility for managing the company’s finances, including financial planning, management of financial risks, record-keeping, and financial reporting. In some sectors, the CFO is also responsible for analysis of data. Some CFOs have the title CFOO for chief financial and […]
We all have heard about the Mr. Manager of a company. A Manager is a person who manages or is in charge of something. Managers can control departments in companies, or guide the people who work for them. Managers must often make decisions about things. The manager is responsible for overseeing and leading the work of a group of people in many […]
The term director is a title given to the senior management staff of businesses and other large organisations. The term is in common use with two distinct meanings, the choice of which is influenced by the size and global reach of the organisation and the historical and geographic context. Further to this, the term is also used […]
As per the Companies Act, 2013 Managing Director means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called.
When we talk about a company, Board of directors of company are important persons who are responsible for operating a business operation of company. Accordingly, there are different types of directors whose role differs from one to another. Let us go through different types of director with their other aspects. Before that we need to […]
A Board report is a document produced by the board of directors under the requirements of The Companies Act, 2013, which details the state of the company and its compliance with a set of financial, accounting and corporate social responsibility standards. The requirement for directors’ reports arose out of a general move for greater transparency in corporate governance. It is useful for […]
