ALTERNATE DIRECTOR: Alternate Director is appointed in place of a director who is temporarily unavailable/leave for a period of more than 3 months from INDIA. We can say that an Alternate Director is like a substitute for the original Director. The appointment of alternate director must be authorized by the Articles of the company otherwise […]
Generally, a director is appointed in the General Meeting of the Company. But sometimes the situation may require to appoint a director on an urgent basis and in that case, the Board cannot wait to convey the general meeting and appoint the director, as it requires lots of formality and hence, the decision may get […]
Before jumping into the main discussion, let us have a look into the important term as under: Loans is not defined anywhere in the Companies Act, 2013. However, in normal parlance, any transaction in which money is given with the intention to be returned either with or without interest is termed as loan. Deposits include […]
SECTION 162 OF THE COMPANIES ACT, 2013 Appointment of Directors to be voted individually In General, the appointment of directors is done in the General meeting of the Company by passing Ordinary Resolution. If a company wants to appoint 5 directors in the general meeting, it has to pass 5 ordinary resolutions for their appointment […]
SECTION 163 OF THE COMPANIES ACT, 2013 Option to adopt Principle of Proportional Representation for Appointment of Directors in the General Meeting of the Company The appointment of directors is normally done through a simple majority in the general meeting of the company. As such, majority shareholders are in a position to select all the […]
SECTION 160 OF THE COMPANIES ACT, 2013 This section basically deals with the rights of person other than retiring director under Section 152 of the Companies Act, 2013 INTENTION BEHIND THIS PROVISION??? Section 160 provides for right of any person (including Member or Non Member of the company) to stand for the position of a […]
SECTION 185 OF THE COMPANIES ACT, 2013 To understand this Section properly we can divide it into three parts: Part 1. Will describe that Loan or Advance cannot be given to individuals or Director. Part 2. Will talk about Loans to Private Company and Body Corporates subject to fulfilment of certain conditions. Part 3. Will […]
