Saturday, November 10, 2012

Business Laws

  1. Know more about Law.
  2. company law.( The companies act 1956.)
  3. Laws relating Partnership(Indian Partnership act 1932)
  4. Relating to contract.(Indian Contract act 1872)
  5. relating to sale of goods.
  6.  Relating to Negotiable instruments .(Sale of Goods act 1930)
  8. Learn more about  company.
  9. What is a company?
  10. it is a legal entity in the eyes of law.
  11. It is an artificial person.
  12. It cannot act  on its own.
  13. It can do so only through human intervention.
  14. It can act  through the directors.
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  16. Who are directors?
  17. Directors are the persons who run the management of the affairs of the company.
  18. They are appointed according  to the law.
  19. They are authorized to direct, control,conduct or superintend the affairs of the company.
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  21. Who are called the board of directors?
  22. The persons who are in charge of the management of the affairs of the company.
  23. They are collectively called the board of  directors.
  24. Or the board.
  25. They  occupy a special position in the structure of the company.
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  27. Who is a director?
  28. he is the one who directs.
  29. Section 2(13)  of the companies Act.1956.
  30. "     Any person occupying the position of a director by whatever name called".
  31. Who can be a director?
  32. Any person and no qualifications required.
  33. He  should hold  a specific number of shares.
  34. The Articles of the Association of the company may fix as the requisite for the appointment of a director.
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  36. Who cannot be a director? (reference.Sec.274)
  37. if he has been found by the court to be of unsound mind
  38. He is an undischarged insolvent
  39.  he has applied to be adjudicated as an insolvent  and his application is pending.
  40. He has been convicted  by a court of any offence involving
  41. moral turpitude and sentenced  in respect thereof to imprisonment for not less than 6 months  and a period of 5 years  has not elapsed  from the date of expiry of the sentence.
  42. he has failed to pay any call on his shares in the company
  43. from the date fixed  for the payment.
  44. Disqualified under sec.203 reg. fraudulent persons managing companies.
  45. Director of a public company  not filed annual accounts and returns  for any continuous period of  three financial years from April 1999.
  46. Any company failed to repay the deposit or interest thereon on due date.
  47. or redeem the debentures  on due date.or pay dividends
  48. continuing for one year or more.
  49. A private company which is NOT A SUBSIDIARY  OF A PUBLIC COMPANY  may by its articles  provide additional qualifications to be appointed as a director.
  50. Section 253.
  51.  No body corporate, association  or firm can be appointed as director  of any company.
  52. Only an individual can be appointed.(only natural persons)
  53. Sec 266B
  54.  Director appointed or to be reappointed  must have identification number under sec.266B

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