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Question
Explain the following Term/Concept:
Director.
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Solution
(1) Section 2 (34) of the Companies Act, 2013 defines “a Director means a director appointed to the Board of the Company”. He is a person appointed to manage, direct, governor control, and supervise the affairs of the company. Only an individual and not a body corporate, association, or firm can act as a director. Directors are the men of commercial skill and business tact.
(2) Directors are authorized by the shareholders to utilize the capital, acquire the assets, and appoint capable personnel to conduct the affairs of the Company. A director works in a number of capacities Viz. as an agent, as a trustee, and as a managing partner.
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RELATED QUESTIONS
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Board of Directors | 1) Nominated by the Board |
| b) Managing Director | 2) Assists and advises the Board |
| c) Company Secretary | 3) Automatic Appointment |
| d) First Directors | 4) Appointed by ROC |
| e) Alternate Director | 5) Extensive Powers of management |
| 6) Substantial Powers of management | |
| 7) Appointed by Promoter | |
| 8) Assists and Advises the Government | |
| 9) Negligible Powers of management | |
| 10) Nominated by Council |
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Public company | 1) Arises due to death of Director |
| b) Private company | 2) Collective Powers |
| c) Secretarial Auditor | 3) Individual Powers to Directors |
| d) Casual Vacancy of a Director | 4) Arises due to additional work |
| e) Powers of the Board | 5) Appointed by Managing Director |
| 6) At least 2 (two) Directors | |
| 7) At least 3 (three) Directors | |
| 8) At least 15 (fifteen) Directors | |
| 9) At least 1 (one) Director | |
| 10) Appointed by the Board |
State whether the following statement is True or False.
A large number of shareholders necessitates the company to have a separate managerial body.
State whether the following statement is True or False.
Executive Director is called as outside Director.
State whether the following statement is True or False.
Promoter of a company cannot be the Independent Director.
State whether the following statement is True or False.
To function as per the Articles of Association of the company is the statutory duty of the Board.
Find the odd one.
Find the odd one.
Complete the sentence.
Minimum number of Directors for a public company should be _______
Complete the sentence.
First Directors of a company are appointed by _______
Complete the sentence.
Casual vacancy on Board is filled by _______.
Complete the sentence.
The audit which checks the compliance of Companies Act is called as _______.
Select the correct option from the bracket:
| Group A | Group B |
| ____________ | Alternate Director |
Select the correct option from the bracket:
| Group A | Group B |
| Women Director | _____________ |
Select the correct option from the bracket:
| Group A | Group B |
| ______ | First Director |
Answer in brief:
What is DIN?
Answer the following question:
Explain the duties of the Director.
Answer the following question:
Explain the Managing Directors.
