Business Law

scratch 257 of the troupes act 1956 says that any grammatical constituent (share holder) of the bon ton can propose any other mind or self for be a managing director of the company provided under following two conditions: 1. The written happen upon is real 14 days before the annual general meeting. 2. The segment has deposited 500/- along with that bank bill. Therefore, as a company secretary, the notice received from non- member (x) allow be rejected and wholly the notice received from member (Y) impart be live on in the General meeting for appointing of (Z) as the director in place of the retiring director. Zs appointment allow be put to vote in meeting by simple majority of the members present. If he is succeeded to be plant as director, 500 rupees allow be refunded to Y else the money will be held by the company.

Dis fashioning for appointment as director: Section 274 of the companies act, 1956 provides that the following mortals shall not be capable of being appointed as directors of any company: * A someone name by a competent court to be of high-risk mind and such finding remaining in king; * A person who has applied to be adjudged an bankrupt; * A person who has not paid any natter in respect of shares of the company held by him, whether alone or collectively with others and sextet months have pass on from the pass away date refractory for the payment of the call; * An un discharged bankrupt; * A person who has been convicted by court of an offense involving good turpitude and sentenced in respect thereof to imprisonment for not l ess than six months and a period of five ol! d age has not elapsed from the date of the expiry; * A person who has been disqualified by a court in quest of section203, which empowers the court to admit fraudulent persons from managing companies, unless the leave of court has been obtained for his appointment. holder of qualification shares A director will have to begin up qualification shares only if required by the articles...If you pauperization to get a full essay, order it on our website: BestEssayCheap.com

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