Question
As per section 167 of the Companies Act, 2013, the
office of a director shall become vacant in which of the following cases? (a) Disqualified under section 164 (b) Disqualified by a Court or the Tribunal (c) Attaining age of 70 (d) Absents himself from more than 50%of Board MeetingsSolution
Section 167 lays down that the office of a director shall become vacant in case: a) Incurs any of the disqualifications specified in section 164; b) Absents from all the meetings of the Board of Directors held during a period of twelve months with or without seeking leave of absence of the Board; c) Acts in contravention of the provisions of section 184 relating to entering into contracts or arrangements in which he is directly or indirectly interested; d) Fails to disclose his/ her interest in any contract or arrangement in which is directly or indirectly interested e)Becomes disqualified by an order of a court or the Tribunal; f) Is convicted by a court of any offence, whether involving moral turpitude or otherwise and sentenced in respect thereof to imprisonment for not less than 6 months; Provided that the office shall be vacated by the director even if he has filed an appeal against the order of such court; g) Is removed in pursuance of the provisions of this Act; h) Having been appointed a director by virtue of his/ her holding any office or other employment in the holding, subsidiary or associate company, ceases to hold such office or other employment in that company.
Calculate Net operating Profit Ratio:
The Reserve Bank of India removed restrictions on individuals from opening interest-earning Foreign Currency Accounts (FCA) in order to make India’s I...
In which year National Institute of Bank Management (NIBM) was established?
The contributions of additional amount of Rs.50,000 towards NPS is allowed deduction under which section of the Income Tax Act?
Which section of the BRSR reporting framework focuses on information about the listed entity, including subsidiary companies?
Which of the following is NOT a role of project sponsors in project finance?
The FSIB is responsible for r ecommending to the government the person for appointment to the Board of financial institutions . What is the full form of...
Determine the cash flow from investing activities during the year based on the following: Cash flow from operating activities: 180,000 Cash flow from fi...
With reference to the NBFCs, consider the following statements:
1. It is a company registered under the Companies Act, 1956
2. NBFC c...
Planning involves
A) Forecasting
B) Choice among alternative courses of action.
C) Wishful thinking
D) Decision only by production manager