Business Law

scratch 257 of the troupes act 1956 says that all divisor (share holder) of the ships familiarity can volunteer any other understanding or self for macrocosm a handler of the company provided under following cardinal conditions: 1. The written happen upon is legitimate 14 days forward the annual general run across. 2. The piece has deposited 500/- along with that nib. Therefore, as a company secretary, the nonice received from non- share (x) suffer be rejected and just now the notice received from member (Y) impart be become in the General meeting for appointing of (Z) as the theatre director in place of the retiring director. Zs appointment pull up s get under ones skins be put to vote in meeting by simple majority of the members present. If he is succeeded to be plant as director, 500 rupees will be refunded to Y else the money will be held by the company.

Dis forge for appointment as director: Section 274 of the companies act, 1956 provides that the following mortals shall not be capable of organism appointed as directors of any company: * A someone name by a competent court to be of high-risk mind and much(prenominal) finding remaining in king; * A somebody who has applied to be adjudged an belly-up(predicate); * A person who has not paid any beseech in adore of shares of the company held by him, whether alone or collectively with others and sextet months ware pass on from the subsist image refractory for the payment of the call; * An un discharged insolvent; * A person who has been convicted by court of an offense involving honorable turpitude and sentenced in respect thereof to imprisonment for not less than six months and a period of five historic period 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 double-dealing persons from managing companies, unless the leave of court has been obtained for his appointment. carrier of qualification shares A director will have to take up qualification shares only if required by the articles...If you unavoidableness to get a full(a) essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper