22
Companies Act 1956: Management of the Company
Learning Objectives
In this chapter, the students are exposed to the basic knowledge on the part of the Companies Act, 1956 covering the following aspects:
Directors and their position.
Qualification and disqualification of directors.
How directors are appointed?
Resignation and removal of directors.
Managing directors-manager.
Remuneration of directors.
Schedule XIII.
22.1 DEFINITION OF A DIRECTOR
Section 2(13) of the Companies Act, 1956 defines a ‘director’ as including ‘any person occupying the position of a director by whatever name called’.
Thus, it is not the name by which a person is called but the position he occupies and the functions and duties which he discharges that determine ...
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