Chapter XI to XIII of Companies Act, 2013

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HomeBrud.gifIndian LawBrud.gifActsBrud.gifCompanies Act, 2013Brud.gifChapter XI to XIII of Companies Act, 2013Brud.gif[[{{{3}}} of Companies Act, 2013]]

Chapter XI: Appointment and Qualification of Directors

  • Section 149: Company to have Board of Directors
  • Section 150: Manner of selection of independent directors and maintenance of databank of independent directors.
  • Section 151: Appointment of director elected by small shareholders
  • Section 152: Appointment of directors
  • Section 153: Application for allotment of Director Identification Number.
  • Section 154: Allotment of Director Identification Number.
  • Section 155: Prohibition to obtain more than one Director Identification Number.
  • Section 156: Director to intimate Director Identification Number.
  • Section 157: Company to inform Director Identification Number to Registrar.
  • Section 158: Obligation to indicate Director Identification Number.
  • Section 159: Punishment for contravention.
  • Section 160: Right of persons other than retiring directors to stand for directorship.
  • Section 161: Appointment of additional director, alternate director and nominee director.
  • Section 162: Appointment of directors to be voted individually.
  • Section 163: Option to adopt principle of proportional representation for appointment of directors.
  • Section 164: Disqualifications for appointment of director.
  • Section 165: Number of directorships.
  • Section 166: Duties of directors.
  • Section 167: Vacation of office of director.
  • Section 168: Resignation of director.
  • Section 169: Removal of directors.
  • Section 170: Register of directors and key managerial personnel and their shareholding.
  • Section 171: Members’ right to inspect.
  • Section 172: Punishment.

Chapter XII: Meetings of Board and its Powers

  • Section 173: Meetings of Board
  • Section 174: Quorum for meetings of Board.
  • Section 175: Passing of resolution by circulation.
  • Section 176: Defects in appointment of directors not to invalidate actions taken.
  • Section 177: Audit Committee
  • Section 178: Nomination and Remuneration Committee and Stakeholders Relationship Committee.
  • Section 179: Powers of Board.
  • Section 180: Restrictions on powers of Board.
  • Section 181: Company to contribute to bona fide and charitable funds, etc.
  • Section 182: Prohibitions and restrictions regarding political contributions.
  • Section 183: Power of Board and other persons to make contributions to national defence fund, etc.
  • Section 184: Disclosure of interest by director.
  • Section 185: Loan to directors, etc.
  • Section 186: Loan and investment by company.
  • Section 187: Investments of company to be held in its own name.
  • Section 188: Related party transactions.
  • Section 189: Register of contracts or arrangements in which directors are interested.
  • Section 190: Contract of employment with managing or whole-time directors.
  • Section 191: Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares.
  • Section 192: Restriction on non-cash transactions involving directors.
  • Section 193: Contract by One Person Company.
  • Section 194: Prohibition on forward dealings in securities of company by director or key managerial personnel.
  • Section 195: Prohibition on insider trading of securities.

Chapter XIII: Appointment and Remuneration of Managerial Personnel

  • Section 196: Appointment of managing director, whole-time director or manager
  • Section 197: Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.
  • Section 198: Calculation of profits.
  • Section 199: Recovery of remuneration in certain cases.
  • Section 200: Central Government or company to fix limit with regard to remuneration.
  • Section 201: Forms of, and procedure in relation to, certain applications.
  • Section 202: Compensation for loss of office of managing or whole-time director or manager.
  • Section 203: Appointment of key managerial personnel.
  • Section 204: Secretarial audit for bigger companies.
  • Section 205: Functions of company secretary.

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