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Agenda
³Director´-The word imply-
Responsibilities of a DIRECTOR
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Appointment of a MD
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The person not to be appointed as managing director-
1.Who is an undischarged insolvent,or has at any time been adjudged an
insolvent.
2.A suspends or any time suspended
3.Who is convicted by a court of an offence involving moral turpitude.
The managing director is required by the articles of the company to hold a specified
share qualification & who is not already qualified in that respect, to obtain
qualification within two months after his appointment as director
BUT
After expiry of two months he does not hold the qualification then he shall be
punishable with Rs.50 for every day between such expiry & the last day on which he
acted as a director.
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A company may be removed a director (not being a director appointed
by the Central government in pursuance of sec408)before the expiry
of his Period of office.
Special notice shall be required of any resolution to remove a director under this section, or to
appoint somebody instead of a director so removed at the meeting at which he is removed
On receipt of notice of a resolution to remove a director under this section, the company shall
forthwith send a copy thereof to the director concerned, and the director (whether or not he is a
member of the company) shall be entitled to be heard on the resolution at the meeting.
1. Members have to object on the director and to call the AGM/EGM for the removal of the said
director.
2. Company have to send the copy of objection letter of members to the director.
3. The director (who required to be removed) may submit his representation in the EGM.
After the commencement of sec 275 no person shall hold office at the same time as director
in more than twenty companies.
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Through all the view points of the survey there have been many book
which give information to prepare this project work. Google search &
internet has helped a lot. I would like to thank Mr. Anindya Sen and all
other books to prepare my project efficiently and effectively.
BIBLIOGRAPHY
Internet Articles
Books-
1. Wadhwa·s COMPANY ACT
2. Marchentile Law by N.D Kapoor