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Thursday, 6 January 2011

Management and Secretarial Practice of Company


Authority of Management

The following groups are responsible for monitoring and managing the affairs of the company.

a. Partner.

b. Board of Directors.

c. Administration.

d. Secretary.

e. CEOs.

f. Management Agents.

g. High staff employees of the company, namely, the bookkeeper, superintendent, treasurer, secretary, Foreman.

Definition of Director:
The term director may cast as the person by the administration to be defined.

The directors are representatives of the shareholders. It's one of those authorized to make management of the company. The directors are collectively known as the Board of Directors. They frame the policies and decisions to reach financial goals.

Leadership positions.

Managers have two positions in society.

1. As a proxy.

2. As a trustee.

1. As a proxy.

The directors are regarded as a special agent of the firm and ordinary means. The order to join the company as in its responsibility. He is not personally liable for contracts on behalf of the company. Since the agents are authorized to operate in all areas, but their powers are limited by law.

2. As Trustee.

i. The Trustees are the guardians of society to some degree.

ii. The powers in the hand for the exercise of corporate earnings set.

iii. You have the power to make calls, assign actions, execute the display and actions.

iv. They are the guardians of the company, but not to individual shareholders or a third person.

Number of directors.

In the case of state enterprises.

Must manage a minimum of seven directors of the Company under Section 174 of the Company-Regulation 1984th The maximum number of directors are appointed in accordance with the Statute. Under Article 177 of all directors will be responsible to remove the deadline in § 180th

In the case of private companies.

Its shareholders may choose at least two directors and the maximum number of directors is described in the statute. Retirement benefits of Directors are not to private companies.

QUALIFICATIONS OF DIRECTORS

There are two qualifications of directors,

1. Share Valuation.

2. Education and Training.

1. Share Valuation (Imprint).

A rating action is required by law. However, it is by the statutes, if a certain measure of qualification by the statutes can be fixed requires each director must its share of qualification within two months after his appointment or such shorter period as the need to deteffi1ined the article.

2. Education and Training.

As managers have to take the leading role in internal and external business processes have the following specific skills education and training.

a. Mind must be healthy.

b. Need to know the process of organizing, planning, coordination. and control of the company.

c. It should be tactful and know how to eliminate complaints from different people.

d. In particular, asset managers have skill in the concerned company and know the process and production industry in which they were appointed.

e. can must be. possess leadership qualities, common sense, confidence, spirit and self-discipline.

Director's remuneration.

a. The directors are not entitled to compensation where this is permitted by law.

b. Companies to the amount of the remuneration of its General Assembly by resolution.

c. May by mutual agreement between the director and the company are set.

d. Can be based on the percentage of net profit.

e. Can be fixed at their respective meetings in the resolution by the directors.

f. The compensation can be described in a social contract.

Any how he should set the remuneration in the prospectus and the profit and loss account of the Company.

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