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Start Free TrialBanking Regulation Act, 1949 Section 10BB
Title: Power of Reserve Bank to Appoint [Chairman of the Board of Directors Appointed on a Whole-time Basis or a Managing Director] of a Banking Company
State: Central
Year: 1949
.....fromthe banking company such pay and allowances as the Reserve Bank may determineand may be removed from office only by the Reserve Bank. (4) Save as otherwise provided inthis section, the provisions of section 10B shall, as far as may be, apply tothe 3 [chairmanof the board of directors appointed on a whole-time basis or a managingdirector] appointed by the Reserve Bank undersubsection (1) as they apply to a 3 [chairman of the board of directors appointed on awhole-time basis or a managing director]appointed by the banking company.] ___________________ 1. Inserted by Act 1 of 1984, Section 18 w.e.f. 15-2-1984. 2. Subsituted by Act 20 of 1994, Section 3 w.e.f. 31-1-1994. 3. Subsituted by Act 20 of 1994, Section 3 w.e.f. 31-1-1994.
View Complete Act List Judgments citing this sectionBanking Regulation Act, 1949 Section 10B
Title: Banking Company to Be Managed by Whole Time Chairman
State: Central
Year: 1949
.....his duties or is absent on leave or otherwise in circumstances notinvolving the vacation of his office, the banking company may, with theapproval of the Reserve Bank, make suitable arrangements for carrying out the 6[duties ofchairman or managing director] for a totalperiod not exceeding four months. ___________________ 1. Subsituted by Act 20 of 1994, Section2, for sub-section (1) w.e.f. 31-1-1994. 2. Subsituted by Act 20 of 1994, Section 2, for certain words w.e.f.31-1-1994. 3. Subsituted by Act 20 of 1994, Section 2 w.e.f. 31-1-1994. 4. Certain words omitted by Act 1 of 1984, Section 17 w.e.f. 15-2-1984. 5. Inserted by Act 1 of 1984, Section 17 w.e.f. 15-2-1984. 6. Subsituted by Act 20 of 1994, Section 2 w.e.f. 31-1-1994.
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 202
Title: Compensation for Loss of Office of Managing or Whole
State: Central
Year: 2013
.....otherwise than on the reconstruction of the company or its amalgamation as aforesaid; (c) where the office of the director is vacated under sub-section (1) of section 167; (d) where the company is being wound up, whether by an order of the Tribunal or voluntarily, provided the winding up was due to the negligence or default of the director; (e) where the director has been guilty of fraud or breach of trust in relation to, or of gross negligence in or gross mismanagement of, the conduct of the affairs of the company or any subsidiary company or holding company thereof; and (f) where the director has instigated, or has taken part directly or indirectly in bringing about, the termination of his office. (3) Any payment made to a managing or whole-time director or manager in pursuance of sub-section (1) shall not exceed the remuneration which he would have earned if he had been in office for the remainder of his term or for three years, whichever is shorter, calculated on the basis of the average remuneration actually earned by him during a period of three years immediately preceding the date on which he ceased to hold office, or where he held the office for a lesser.....
View Complete Act List Judgments citing this sectionUnit Trust of India Act, 1963 (52 of 1963) Section 14A
Title: Emergency Powers of the Whole-time Chairman
State: Central
Year: 1963
1 [14-A. Emergency powers of the whole-time Chairman If the Chairman, whose appointment is whole-time is of opinion that circumstances exist which render it necessary for him to take immediate action in respect of any matter which is within the competence of the Board and that the interests of the Trust may be prejudicially affected if such action is deferred until after the next meeting of the Board, then, notwithstanding anything contained in Cl. (c) of sub-section (2) of Section 14, the Chairman may take such action in respect of that matter as he deems necessary and for such purpose, he may exercise all powers and do all acts and things which may be exercised or done by the Board, but in every such case, he shall, as soon as may be after the action is taken, make a written report to the Board containing a statement of the action taken and the circumstances under which it was taken.] ______________________ 1. Inserted by Act 63 of 1985, Section 4 (w.e.f. 23rd April, 1985).
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 196
Title: Appointment of Managing Director, Whole
State: Central
Year: 2013
.....company and by the Central Government in case such appointment is at variance to the conditions specified in that Schedule: Provided that a notice convening Board or general meeting for considering such appointment shall include the terms and conditions of such appointment, remuneration payable and such other matters including interest, of a director or directors in such appointments, if any: Provided further that a return in the prescribed form shall be filed within sixty days of such appointment with the Registrar. (5) Subject to the provisions of this Act, where an appointment of a managing director, whole-time director or manager is not approved by the company at a general meeting, any act done by him before such approval shall not be deemed to be invalid.
View Complete Act List Judgments citing this sectionNational Dairy Development Board Act, 1987 Section 15
Title: Delegation of Powers to Whole-time Directors, Etc.
State: Central
Year: 1987
The Board may, from time to time, by order, delegate, subject to such general and special conditions as it may deem fit to impose, the powers of appointment, termination, suspension and dismissal from service of any employee of the National Dairy Development Board,-- (a) who is drawing a salary in such higher grade as may be prescribed, to a whole-time director, and (b) who is drawing a salary in any grade, other than a higher grade prescribed under Cl. (a), to such officer of the National Dairy Development Board as it may deem fit: Provided that in relation to employees falling under clause (b), the Chairman may, if he considers it necessary or expedient so to do, perform the functions of the Board under this section.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 269
Title: Appointment of Managingor Whole-time Director or Manager to Require Government Approval Only Incertain Cases
State: Central
Year: 1956
.....been found to be in contravention of Schedule XIII, shall, if the acts so done are valid otherwise, be valid notwithstanding any order made by the3[Tribunal] under subsection ( 9 ). Explanation. In this section "appointment" includes re-appointment and "whole-time director" includes a director in the 'whole-time employment of the company'.] ______________________ 1. Section 269 substituted by Act 65 of 1960, sec. 91 (w.e.f. 28-12-1960) and again substituted by Act 31 of 1988, sec. 46 (w.e.f. 15-6-1988). 2. Substituted by Act 53 of 2000, sec. 130, for "five hundred rupees" (w.e.f. 13-12-2000). 3. Substituted by Act 11 of 2003, sec. 33, for "Company Law Board". 4. Substituted by Act 53 of 2000, sec. 130, for "five thousand rupees" (w.e.f. 13-12-2000). 5.Substituted by Act 53 of 2000, sec. 130, for "ten thousand rupees" (w.e.f. 13-12-2000). 6. Substituted by Act 53 of 2000, sec. 130, for "fifty rupees" (w.e.f. 13-12-2000).
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 318
Title: Compensation for Loss of Office Not Permissible Except to Managing or Whole-time Directors or to Directors Who Aremanagers
State: Central
Year: 1956
.....as aforesaid; (c) where the office of the director is vacated by virtue of section 203, 3 [***] or any of the clauses (a) to 4 [(1)], of sub-section (1) of section 283; (d) where the company is being wound up, whether by 5 [order of the Tribunal] or voluntarily, provided the winding up was due to the negligence or default of the director; (e) where the director has been guilty of fraud or breach of trust in relation to, or of gross negligence in or gross mismanagement of, the conduct of the affairs of the company or any subsidiary or holding company thereof; (f) where the director has instigated, or has taken part directly or indirectly in bringing about, the termination of his office. (4) Any payment made to a managing or other director in pursuance of sub-section (1) shall not exceed the remuneration which he would have earned if he had been in office for the unexpired residue of his term or for three years, whichever is shorter, calculated on the basis of the average remuneration actually earned by him during a period of three years immediately preceding the date on which he ceased to hold the office, or where he held that office for a lesser period than three.....
View Complete Act List Judgments citing this sectionIndian Evidence Act 1872 Section 97
Title: Evidence as to Application of Language to One of Two Sets of Facts, to Neither of Which the Whole Correctly Applies
State: Central
Year: 1872
When the language used applies partly to one set existing facts, and partly to another set of existing facts, but the whole of it does not apply correctly to either, evidence may be given to show to which of the two it was meant to apply. Illustrations A agrees to sell to B "my land at X in the occupation of Y". A has land at X, but not in the occupation of Y, and he has land in the occupation of Y, but it is not at X. Evidence may be given of facts showing which he meant to sell.
View Complete Act List Judgments citing this sectionIndian Succession Act, 1925 Section 176
Title: Where Gift of Annuity and Residuary Gift, Whole Annuity to Be First Satisfied
State: Central
Year: 1925
Where there is a gift of an annuity and a residuary gift, the whole of the annuity is to be satisfied before any part of the residue of paid to the residuary legatee, and, if necessary, the capital of the testator's estate shall be applied for that purpose.
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