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Home Bare Acts Phrase: directorateCompanies Act, 1956 Chapter 2
Title : Directors
State : Central
Year : 1956
.....the representations are received by it too late for it to do so, - (a) in any notice of the resolution given to me mbers of the company state the fact of the representations having been made; and (b) send a copy of the representations to every me mber of the company to whom notice of the me eting is sent (whether before or after receipt of the representations by the company); and if a copy of the representations is not sent as aforesaid because they were received too late or because of the company's default, the director may (without prejudice to hi s right to be heard orally) require that the representations shall be read out at the me eting: Provided that copies of the representations need not be sent out and the representations need not be read out at the me eting if, on the application either of the company or of any other person who claims to be aggrieved, the1[Central Government] is satisfied that the rights conferred by this sub-section are being abused to secure needless publicity for defamatory mailer; and the1[Central Government] may order the company's costs on the application to be paid in whole or in part by the director notwithstanding that he is not a.....
View Complete Act List Judgments citing this sectionState Bank of India Subsidiary Banks Act, 1959 Section 25
Title : Composition of the Board of Directors
State : Central
Year : 1959
.....Act(66 of 1988), Section 18 w.e.f 30-12-88. 4. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(a) the chairman for the time being of the State Bank, ex officio;" 5. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(b) an officer of the Reserve Bank, to be nominated by that Bank;" 6. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(d) two directors to be elected in the prescribed manner by the shareholders, other than the State Bank: Provided that if the total amount of the holdings of all such shareholders registered in the books of the subsidiary bank three months before the date fixed for election is below five per cent of the total issued capital, or if there are no shareholders other than the State Bank registered on the bonks of the subsidiary bank, the directors to be elected by the shareholders shall be nominated by the State Bank and such directors shall, for the purposes of this Act, be deemed to be directors elected under this.....
View Complete Act List Judgments citing this sectionState Bank of India Subsidiary Banks Act, 1959 Section 34
Title : Meetings or the Board of Directors
State : Central
Year : 1959
.....Act, 1973 (48 of 1973), Section 28 w.e.f.1-7-1974. 3. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(1)The Board of Directors of a subsidiary bank shall meet at such time and place and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed." 4. Substituted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) for the words "The chairman of the State Bank". 5. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "(3) All questions at a meeting of the Board of Directors of a subsidiary bank shall be decided by a majority of the votes of the directors present, and in case of equality of votes, the person presiding at the meeting shall have a second or casting vote." 6. Substituted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) for the the words, brackets and letter "of the Reserve Bank or the State Bank nominated under clause (b) or clause (c)" 7. Omitted the words "and the Reserve.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 149
Title : Company to Have Board of Directors
State : Central
Year : 2013
.....the minimum number of independent directors in case of any class or classes of public companies. Explanation.--For the purposes of this sub-section, any fraction contained in such one-third number shall be rounded off as one. (5) Every company existing on or before the date of commencement of this Act shall, within one year from such commencement or from the date of notification of the rules in this regard as may be applicable, comply with the requirements of the provisions of sub-section (4). (6) An independent director in relation to a company, means a director other than a managing director or a whole-time director or a nominee director,-- (a) who, in the opinion of the Board, is a person of integrity and possesses relevant expertise and experience; (b) (i) who is or was not a promoter of the company or its holding, subsidiary or associate company; (ii) who is not related to promoters or directors in the company, its holding, subsidiary or associate company; (c) who has or had no pecuniary relationship with the company, its holding, subsidiary or associate company, or their promoters, or directors, during the two immediately preceding financial years or.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 152
Title : Appointment of Directors
State : Central
Year : 2013
.....adjourned meeting, unless-- (i) at that meeting or at the previous meeting a resolution for the re-appointment of such director has been put to the meeting and lost; (ii) the retiring director has, by a notice in writing addressed to the company or its Board of directors, expressed his unwillingness to be so re-appointed; (iii) he is not qualified or is disqualified for appointment; (iv) a resolution, whether special or ordinary, is required for his appointment or re-appointment by virtue of any provisions of this Act; or (v) section 162 is applicable to the case. Explanation.--For the purposes of this section and section 160, the expression "retiring director" means a director retiring by rotation.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 314
Title : Director, Etc. Not to Hold Office or Place of Profit
State : Central
Year : 1956
.....of profit in the company, is appointed by the Central Government, under section 408, as a director.] _______________________ 1. Substituted by Act 65 of 1960, Section 116, for sub-section (1) ( w.e.f. 28-12-1960). 2. Substituted by Act 31 of 1965, Section 44, for "previous consent" ( w.e.f. 15-10-1965). 3. Substituted by Act 41 of 1974, Section 29 for certain words ( w.e.f. 1-2-1975). 4. Substituted by Act 31 of 1988, Section 49, for "five hundred rupees or more" ( w.e.f. 15-6-1988). 5. Substituted by Act 31 of 1965, Section 44, for proviso ( w.e.f. 15-10-1965). 6. Inserted by Act 41 of 1974, Section 29 ( w.e.f. 1-2-1975). 7. Substituted by Act 31 of 1988, Section 49, for "three thousand rupees" ( w.e.f. 15-6-1988). 8. Proviso omitted by Act 31 of 1988, Section 49 ( w.e.f. 15-6-1988). 9. Substituted by Act 31 of 1965, Section 44, for sub-section (2) ( w.e.f. 15-10-1965). 10. Sub-section (2) re-lettered as clause (a) thereof by Act 41 of 1974, Section 29 ( w.e.f. 1-2-1975). 11. The words "managing agent, secretaries and treasurers," omitted by Act 53 of 2000, Section 154 (w.e.f. 13-12-2000). 12. Inserted by Act 65 of 1960, Section 116 ( w.e.f......
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 6
Title : Board of Directors
State : Central
Year : 1981
.....from out of the directors of the Reserve Bank; (e) three directors from amongst the officials of the Central Government ; (f) two directors from amongst the officials of the state Government ; and (g) a Managing Director. (2) The Chairman and other directors shall be appointed by the Central Government in consultation with the Reserve Bank; [Provided that no such consultation shall be necessary in the case of directors appointed under clause (e) of sub-section (1).] (3) Where the Central Government is satisfied in consultation with the Reserve Bank and [***], that it is necessary so to do it may appoint one or more whole-time directors with such designations as may be deemed appropriate by that Government and any whole-time director so appointed shall also be a member of the Board;" 2 . Omitted by Banking Laws (Amendment) Act 1985, w.e.f.1-5-86.
View Complete Act List Judgments citing this sectionWarehousing Corporations Act, 1962 Section 7
Title : Directors
State : Central
Year : 1962
.....receive by way of remuneration such sums as the Central Warehousing Corporation may, with the approval of the Central Government, fix: Provided that no official director shall be entitled to receive any remuneration other than the allowances, if any, admissible to him under the rules regulating his conditions of service. (7) The term of office of, and the manner of filling casual vacancies among, the directors shall be such as may be prescribed. ________________________ 1. Omitted vide Warehousing Corporations (Amendment) Act, 2005 2. Inserted vide Warehousing Corporations (Amendment) Act, 2005 3. Omitted vide Warehousing Corporations (Amendment) Act, 2005 4. Inserted vide Warehousing Corporations (Amendment) Act, 2005
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 284
Title : Removal of Directors
State : Central
Year : 1956
.....the representations are received by it too late for it to do so, - (a) in any notice of the resolution given to me mbers of the company state the fact of the representations having been made; and (b) send a copy of the representations to every me mber of the company to whom notice of the me eting is sent (whether before or after receipt of the representations by the company); and if a copy of the representations is not sent as aforesaid because they were received too late or because of the company's default, the director may (without prejudice to hi s right to be heard orally) require that the representations shall be read out at the me eting: Provided that copies of the representations need not be sent out and the representations need not be read out at the me eting if, on the application either of the company or of any other person who claims to be aggrieved, the1[Central Government] is satisfied that the rights conferred by this sub-section are being abused to secure needless publicity for defamatory mailer; and the1[Central Government] may order the company's costs on the application to be paid in whole or in part by the director notwithstanding that he is not a.....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 309
Title : Remuneration of Directors
State : Central
Year : 1956
.....come into force immediately on the commencement of this Act or, where such commencement does not coincide with the end of a financial year of the company, with effect from the expiry of the financial year immediately succeeding such commencement. (9) The provisions of this section shall not apply to a private company unless it is a subsidiary of a public company. _______________________ 1. Inserted by Act 31 of 1965, Section 42 (w.e.f. 15-10-1965). 2. Substituted by Act 65 of 1960, Section 113, for sub-sections (2) and (3) (w.e.f. 28-12-1960). 3. Substituted by Act 31 of 1965, Section 42, for sub-section (4) (w.e.f. 15-10-1965). 4. The words "a managing agent or secretaries and treasurers," omitted by Act 53 of 2000, Section 153 (w.e.f. 13-12-2000). 5. Inserted by Act 65 of 1960, Section 113 (w.e.f. 28-12-1960). 6. Substituted by Act 65 of 1960, Section 114, for certain words (w.e.f. 28-12-1960).
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