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प्रश्न
Justify the following statement:
A Director is an agent of the Company.
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उत्तर
(a) A company, being an artificial person cannot act on its own. It acts through the Directors. They, therefore, resemble as agents of the company in the eyes of law. As agents, Directors can enter into contracts, sign agreements or contracts, carry on the business, and perform all the other duties on behalf of the company.
(b) As agents, they must act within the scope of their authority and in the name of the principal (i.e. the company). They would be personally liable if they enter into a contract in their own name or use the company’s name incorrectly or exceed the powers given to them by the Memorandum of Association or the Articles of Association.
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement.
_________ needs a whole time director.
Write a word or a term or a phrase which can substitute the following statement:
Agents, Trustees and Managing Partners of the company.
Answer in one sentence.
What is the importance of Secretarial Standards?
Correct the underlined word and rewrite the following sentence:
First Directors are appointed by ROC.
Correct the underlined word and rewrite the following sentence:
Secretarial Standards are given by the Companies Act, 2013.
Explain the following Term/Concept:
Managing Director.
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:
Managing director and Manager
Answer in brief:
State any four powers of the Board of Directors.
Justify the following statement:
Directors have to work as a team.
Justify the following statement:
A Director cannot be called an employee of the company.
Justify the following statement:
Managing Director has substantial powers of management.
Justify the following statement:
Indian companies prefer to appoint a M. D. than Manager.
Justify the following statement:
Pro-tem Secretary is helpful to the company.
Answer the following question:
Explain the Company Secretary.
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 of 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.
