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00:0012.2 on directors, in the topic one the complete kind of the directors or the role in other
00:17directors. To understand directors in a better way, we will go for some definitions related here.
00:45It is clearly defined, clause 59 of section 2, it includes the director.
01:07As well as any person, please highlight any person under whose direction or instructions
01:12the four or any or one of the more of the directors are accustomed to act.
01:16If they say this, what is it? If they say that, if they say that, they are the officer's capacity.
01:22So, officers are wider term. Compared to the director, officers are wider term.
01:26Next, we will go for directors and board of directors.
01:30Directors are the individual person, board of directors is the collective meaning.
01:34Okay? Definition as per the act.
01:38If you look at the directors in class 34, one means the director is appointed to the board.
01:44In the class 10, it means the collective body of directors of the company.
01:46In the class 10, it means the collective body of the directors of the company.
01:48In the class 10, it means the collective body of the directors of the company.
01:50In the class 10, it means the collective body of the directors of the company.
01:54In the class 10, it means the individual person, board of directors is the collective body of the directors of the company.
02:14In the definition of the director, it means the individual person, board of directors is the collective body of the company.
02:23So, it means in the individual sense, it means the collective sense.
02:26If you look at the powers, please make a note.
02:28No individual powers, unless specific authorization is given by the board.
02:32If you look at the individual power, it means the board of directors is the power of the board of the directors.
02:39If you look at the board of directors, if you look at the board of directors, you look at the board meeting.
02:44If you look at the individual, please contact us if you look at the job.
02:47Please contact us if you look at the board member.
02:49Only please contact us if we need a pilot.
02:50We will sign a loan agreement.
02:53We will sign up with the GST.
02:55In the case, we will make the cooperative buat data.
02:57So, we will authorize the executive agreement.
02:59We will have one thing, when the board meeting will be passed.
03:00If we request a resolution to the board meeting, please contact us if we request a recommendation.
03:05So, the director has delegated powers.
03:09There is no special powers.
03:11On board of directors, there are almost all powers except a few.
03:15So, section 179 and 180 note.
03:18We have discussed that in 179, there are powers of directors.
03:22Collectively.
03:23And 180 is the restriction of the powers.
03:26Powers of the board.
03:28The mode of selection is case to case basis.
03:30A rotational director or an independent director.
03:33So, we have asked for the act and articles of association.
03:37The board of directors, there are many of them.
03:39They say, what is a private company?
03:41Public company?
03:42One-person company?
03:43They say, what is a member of association?
03:45They say, what is a member of association?
03:47But, if you select a particular director,
03:49they don't have to say anything.
03:51They say, what is a CA person?
03:53CMA person, they say, what is a doctor?
03:55They say, who is not a director?
03:57Who cannot be a director?
04:00Disqualification.
04:02Nature.
04:03Directors are roles.
04:05Eyes, ears, brain, hands, nerves and other essential links.
04:08These are the nucleus.
04:10These are the nucleus of the organization.
04:12One day, individuals can act as a director.
04:15Please make one of section 149.
04:17Okay.
04:18Section 149.
04:19Please try to accommodate.
04:21Please try to accommodate.
04:24149.
04:25Individuals are not a director.
04:27Body corporate director.
04:29The association of persons firm cannot be appointed as a director of the company.
04:33And the director of the company is not a servant.
04:36Okay.
04:37He cannot be described as a servant also.
04:40Actually, he is an agent for the company.
04:42He is a trustee of the company.
04:44The association of the company is not ahemian.
04:45So, in relationship generation,
04:46you might be able to run from a director,
04:47you might go into the company.
04:50You might come up with the influence and look to the company.
04:52If you make the company,
04:53you might have run from any director.
04:54What you have said,
04:55you might have done its authority in the company.
04:56Law of Agency,
04:57The company, both agent and principle of the company itself, is the director of the agent of the company.
05:04Let's note that.
05:06Let's get confused.
05:07Second, who is the director of the company?
05:10The first thing is that the company is the company's principle and the company's agent.
05:17If you want to know anything about this,
05:19if you want to know the company, it will be the company's company.
05:21Who will do it?
05:22The board of directors and shareholders will do it.
05:26That means, if you want to know the company's business,
05:29if you want to know the company's business,
05:31then you react to the company's company.
05:34If you want to know the company's agent,
05:35then the company is the principle of the agent.
05:37The director of the company is the agent of the company.
05:41The directors and the boards are the trustees of the company.
05:45So, properties, assets, companies,
05:48all those who are the board of directors are the control of.
05:51The first point is that the professional men hire a company.
05:55the professional men hired by the company.
05:57Second, the officer of the company,
05:59by definition,
06:00so it says that the officer is the director.
06:03Third, works as an employee in a different capacity.
06:07Who can be a director?
06:09Who can be a director?
06:11They have a project that's part of the company.
06:12The full time director is an employee.
06:13Who can be a director?
06:16They are not all the clients that are involved.
06:18They are not at the act,
06:19they are not doing it.
06:20They have a broader view of the company.
06:21The promoter is a director.
06:23The promoter is a related director.
06:26The co-promoter is a director.
06:28The owner is a promoter.
06:30The owner is a promoter.
06:31The owner is a promoter.
06:32or promote a director.
06:36Any individual who needs an outsider can still be competent to manage.
06:40What competencies do you have?
06:42You don't have to be wise.
06:44You don't have to be an experience.
06:46You don't have to be a director.
06:48You don't have to be a professional.
06:50That's the third category.
06:52What role is efficient functioning.
06:54If a company is successful, it depends on what you do.
06:56What do you do?
06:58First, they formulate policy.
07:00You can develop an organizational set-up.
07:04What objective, object loss?
07:06What business?
07:08How do you implement objectives?
07:10Third, muster resources.
07:12The optimization of the resources.
07:14How do you collect the resources?
07:16How do you get capital or equity capital?
07:18So, the company has objectives.
07:20And control, guide, manage, director, manage the archives of the company.
07:24Completely, you don't have to be a director.
07:28The basic policy of the company.
07:30The designations of directors.
07:32The articles of association.
07:34If you tell us what we did,
07:36one of the governments,
07:38one of the members of the TSUs,
07:40one of the public sector,
07:42one of the directors and governing council,
07:44one of the central body members.
07:46It's different.
07:48So, the government of the governing council,
07:50board of the management,
07:52one of the directors of the government.
07:54simply by the director.
07:57This is the article of association and other terms.
08:00Section lead companies, association and other bodies
08:03are members of executive committee.
08:06Please highlight.
08:07What you can tell about section lead companies
08:11are governing bodies
08:13or executive committee.
08:15It is not a non-profit organization.
08:18So, the directors have different roles
08:22depending on the facts of each case.
08:24Case-to-case basis.
08:26Who is the manager,
08:30whole-time director,
08:31managing director?
08:32They have prominent position,
08:34strategic decision making,
08:36main position.
08:38They have all the main positions.
08:40They have all the main positions.
08:42They have all the main positions.
08:44The nature and extent of duties
08:47is that they have all the duties.
08:50Managing director and manager
08:53will also be in the company.
08:55Managing director and manager role
08:57is different.
08:58If you report them,
09:00who will report them?
09:02Who will report them?
09:04They have all the same capacity.
09:06That's why,
09:07when you tell the actor,
09:08managing director is the manager.
09:10You are not the manager.
09:12You are not the manager.
09:13You are not the manager.
09:14You are the manager.
09:15You are the manager.
09:16The manager is the manager.
09:17If what you are confusing,
09:18what we declared about the manager?
09:19When we make a manager.
09:20We use a manager,
09:22then there is a manager background.
09:24What should we say to manage the manager?
09:25There is clear money.
09:27But if we have a shop manager or a supervisor, then we have a manager.
09:33If we have a higher authority, line of authority, then we have a manager.
09:39That's why we have a manager.
09:41No.
09:42If you have a manager, then you have a managing director.
09:44If you have an organization, then you have a managing director.
09:48That's why we have a managing director.
09:50So, there are no differences.
09:53And most important things, we can assign a detailed provisions in the act.
09:57For example, they have an appointment.
10:00Now, if you can't make a manager or managing director, then you have a problem.
10:07If a manager is a manager or MDA, then they are the director.
10:13They follow the director or the director of the provisions.
10:17You have a general manager or GM posts.
10:21He is the manager. He is the director.
10:25He is the name of the director.
10:29He is the full-time director.
10:31Executive director, director.
10:33Managing director, director.
10:35He is the name of the director.
10:37GM need not be a director.
10:39A director is the GM.
10:41That's different.
10:43But GM need not be a director.
10:45He is the GM who is not a director.
10:49He is the name of the director.
10:51He is the name of the director.
10:53That's why there are detailed provisions.
10:57In the U.S. High Code,
10:59there are 3-4 BP ready cases.
11:01There is a manager,
11:03or a manager,
11:05or a KMP.
11:07He is the name of the director.
11:09He is the name of the director.
11:11He is the name of the director.
11:13He is the name of the director.
11:15Now let me go for duties and responsibilities of a director.
11:17He is the name of the director.
11:19He is the name of the director.
11:21He is the name of the director.
11:23Then the name of section 166.
11:25In part, I tried to memorize some numbers.
11:27Duties and responsibilities.
11:29He is the name of the director.
11:31In the first type Companies Act,
11:33he is the name of the director.
11:35So, in 2013,
11:37there are two pieces.
11:39Because in the Bulletin section 166, subsection 1, subsection 2.
11:44First, he should act in accordance with the Articles of Association.
11:48Actually, companies are saying that there are no duties.
11:51If you want to say that,
11:53Articles of Association should be mentioned before.
11:56That should be said before.
11:58Second, he should act in good faith.
12:00That's why we have no company.
12:02Principle of good faith.
12:04Principle of good faith.
12:11Principle of natural justice.
12:15Principle of natural justice.
12:18Principle of equality.
12:21There is no time for this.
12:23This principle is not the only way to follow.
12:26Good faith,
12:28If you have no doubt,
12:33You have no doubt.
12:37You have no doubt.
12:39You can say that you have no doubt.
12:42If you have no doubt,
12:43You have no doubt.
12:44That's correct.
12:45That doubt will be a little bit.
12:46That's why we refer to the contract.
12:48Principle of natural justice and principle of equality.
12:51Principle of equality.
12:53Principle of equality.
12:55When you are sure how to follow and down,
12:57Basically,
12:58You have no doubt for the people who are not theengo of equality.
13:00Changing their teeth are not the exactamente opposite side.
13:01We can say so.
13:03Number of equality.
13:04factories and地方 experiences come from some увид.
13:05Besides Giulia feel reason for monsieur,
13:07Its own nakedness.
13:09Enabling trading policy vetting is not the same with are lumpy in both sides,
13:11But when you encounter the police,
13:13The police details of the court,
13:15You don't accept it.
13:16You are the only physical of natural justice.
13:18Your foot trivialises are not the same with physical Martian.
13:20That's why you would help it leave a crime as a crime,
13:23If you want to go to jail, you can go to jail for any case.
13:29If you want to go to imprisonment, you can say the definition of imprisonment.
13:36If you want to say the definition of imprisonment, you can go to the 4th floor.
13:404 walls.
13:42There is a small room space.
13:45You can access a lot of space.
13:47If you want to go to jail, you can't go to jail, you can't go to jail.
13:52You will have a very small room space.
13:55If you want to move space, you can't move.
14:00If you want to move the walls, you can create tension.
14:07If you want to access it, you can go to the outside.
14:11If you want to go to the outside, you can't go to the outside.
14:14If you want to know how to solve the situation, you can get the right or wrong.
14:17If you want to go to jail, you can go to jail.
14:20If you can do the same thing you can do.
14:22If you want to do it, you can do it very special.
14:26That is a serious crime in the case.
14:29If you want to say in the first case, your child is 12 years old.
14:33Life is 10 years old.
14:36You can then call it 28 years old.
14:39In the 28th year, I was able to write a book and write a book.
14:44In the 14th year, in the 28th year, I was able to write a fact to death.
14:51Fact to death is an extreme crime.
14:54That is the extreme life sentence.
14:56In the 14th year, I was able to retire in jail.
15:02If you look at a person, you have to check out the 7th year period.
15:09Every 7th year, you will find a difference in your body language, character differentiation.
15:15Every 7th year, you will find a sense.
15:17Probably, 1st to 4th year, 6-7th year period, you will know if it is correct.
15:24After 15th year, your digital capacity will be different.
15:27You will find a team.
15:28You will find a team.
15:30In the 20th year or 30th year, you will find a 7th year period.
15:35Every 7th year, you will find a mental capacity and physical capacity.
15:42If you go to jail or you go to jail, you will find a total problem.
15:48They have to realize what they have done is wrong.
15:52That is the principle of natural justice and equality.
15:58And in good faith, to promote the objects of the company is obviously for the benefit of its members as a whole and the best interest of the company is employees, shareholders and community and for the protection of the environment.
16:10If you go to jail, you will find a person who is a doctor.
16:14Third point, excise his duties to do reasonable care, skill and diligence and she will excise independent judgment.
16:21There is no one who has any responsibility.
16:23Fourth one, not involved in a situation that he may have a direct or indirect interest or conflicts.
16:28Any other issue, you will find a conflict of interest in case you will find a declaration.
16:33Related party transactions, you will find a declaration.
16:37Fifth one, not achieve or attempt to achieve any undue gain or advantage.
16:42Undue gain or advantage,
16:44If there is no business taking over,
16:49no business is taking over,
16:51company is lost.
16:53Even what a salary is going to be.
16:55Actually, a loss-making company is going to be the director of the salary of the company,
17:00because there is a special case.
17:02The director is working on behalf of the company.
17:04Probably, there is no loss.
17:05In another two years, the director is working hard to bring the company in a better way.
17:09Then, what do you do?
17:10You will find a provision for shareholders and the directors.
17:13You will find a loss-making company.
17:16You will find a loss-making company.
17:17You will find a lot of resources.
17:18You will find a lot of provisions.
17:19So, even if you do this,
17:21you will find any until gain or advantage.
17:24And you will find unnecessary and unfair.
17:29You will find a lot of evidence.
17:30Either to himself,
17:31or his relatives,
17:32or partners and associates.
17:33It is not even that somebody else.
17:35So, if you do anything,
17:37you will find anything that you achieve you will do this.
17:40Then, if you doify them,
17:42you will find out there.
17:43You are not guilty of any undue gain.
17:46You probably are the liable to pay the amount equal to the company.
17:50You will not assign his office.
17:52If any assignments are made, it should be Y.
17:55Now, if you have board of directors, board meetings,
17:59X, Y, Z, and 3 directors.
18:04If you have three meetings,
18:06then you have the authority to sign the loan agreement.
18:11If you sign the loan agreement,
18:13your personal secretary, Mr. Yek,
18:16if you sign it, it will be Y.
18:19He cannot assign this office.
18:22This is a bit of a twist.
18:24Board of directors is not an individual person.
18:28Board of directors are in collective sense.
18:30Board of directors are doing the same thing.
18:33The specific person is the authority.
18:36The specific person is the authority.
18:39Board of directors can delegate the work.
18:41Board of directors cannot assign an office.
18:45As an individual director,
18:47you cannot assign an office.
18:49In case you can assign it, it should be Y.
18:51If you follow this,
18:53the final provision is 1 lakh to 5 lakh rupees.
18:56This is the director.
18:57Is it okay?
18:58So, take over.
18:59DIN number,
19:01Director's identification number.
19:03Last time,
19:04DIN number is G.
19:05G.
19:08No matter what we did.
19:09DIN number is DIN number.
19:10DIN number is EG.
19:11DIN number is DIN number is DIN.
19:12DIN number is DIN.
19:13When you go to a company,
19:15you can go to a director and get DIN number,
19:17DIN number is DIN number is DIN number.
19:18Then what do you say?
19:19If you go to a director and reach DIN number,
19:21we apply directly to your director identification number.
19:23Probably, there is a company called XY.
19:27Who is the director? XO, Y is the director.
19:30Now, Z is the director.
19:34Z is the director.
19:37XO, Y is the director.
19:42Z is the director.
19:47Z is the director.
19:52Another firm is the director.
19:55That is the director.
19:57This is the director.
19:59This is the only one.
20:01If you have a director,
20:03the only one is the director.
20:07This is the director.
20:17This is the director for all three companies.
20:18Then, the company has failed earlier than the X Company and then, we need to swipe the animal trends.
20:23After 2 or 3 years, the government has removed the code and has been closed.
20:29So, it has been called strike off, the price of a company.
20:32Then, they took the flag to strike off and the name of the company.
20:35Then, the name of the company is called.
20:37That was by the Y Company's director.
20:38The Z Company's director has been called.
20:41Because this company has got a role to make a financial level.
20:45You can't see why you don't see the right person, but you can't see why.
20:50You don't see the right person.
20:53He doesn't have the qualification, he doesn't have the thing.
20:57You can surrender sometimes.
21:00You can surrender sometimes.
21:02In a class, you can discuss it.
21:05Disqualification, conviction, fraud.
21:09There are norms.
21:11On the opt-off question, you have to give the chance to the bank waiter, so let me continue.
21:28Obtaining DIN procedure, DIN identification number is allotted by central government.
21:34Central government, different numbers are allocated to any individual intending to be appointed as director.
21:41How do you have any existing director of the company?
21:44In 2013, the DIN identification number is not available.
21:47What purpose is to identify the director.
21:50If you have any sections applicable, section 153 and 157,
21:55actually, we need to apply the central government and other related provisions.
22:00Application for allotment, individual shall apply, who is intending to be appointed as a director.
22:05Prescribed form, prescribed manner.
22:07There are five-year fees.
22:09And central government will prescribe any identification number.
22:11Qualification of a director, particular qualification,
22:14there is no prescribed academic professional qualification,
22:17there is no particular professional qualification,
22:19there is no shareholder fund,
22:20there is no shareholder fund,
22:21there is no association,
22:22what do you do in the association?
22:23Sometimes, you can't do FLAIM,
22:25you can't do FLAIM,
22:26you can't do FLAIM,
22:27you can't do FLAIM,
22:28then, you can't do FLAIM,
22:29you can't do FLAIM.
22:31You can't do FLAIM,
22:32you can't do FLAIM.
22:33Then, what is the director qualification,
22:35then, what does FLAIM mean?
22:36Okay, I want to share it,
22:37I want to share it.
22:38It's not an asset,
22:39I want to share it,
22:40I want to share it,
22:41I want to share it,
22:42but I want to share it.
22:43If the company has a growth of participation,
22:44when they have a little episode involved,
22:46that's not mandated,
22:47so,
22:48it's not mandated,
22:49articles of association has been mentioned in the association.
22:51Okay. So, what we conclude here is, directed deed, neither needs any minimum professional qualification or not any shag qualification.
23:02Disqualifications, let us know.
23:07Disqualifications, particularly disqualifications, a person shall not be eligible for the appointment as a director if he is of sound minded.
23:16Now, if you look at the contract act, you will be able to act as a company.
23:25Sound minded, or stands as sound minded so declared whether confidential.
23:31Quote says sound minded. Sorry, unsound minded.
23:35He is an undistarged insolvent. Insolvency proceedings are required.
23:40In point and third point, you note that.
23:42I want to accept the case, if there is a case.
23:46I have to close the liability, this is an insolvency.
23:49In point and third point, you have to use the insolvents.
23:54You put an application in the application, now you have to be pending.
23:58In court, you have to say the insolvency.
24:01In point and third point, you have to do insolvency.
24:05In point and third point, you have to apply the insolvency.
24:10Then you can't say to the court.
24:13Okay. Conviction by your court.
24:16Probably warrant, aptitude, or bad.
24:20Imprisonment is not less than 6 months.
24:23For 6 months, you have to go to jail.
24:27You have to go to jail for 6 months.
24:30If you go to jail for 6 months,
24:32you have to go to jail for 5 years.
24:34Please make a note.
24:36Not less than 6 months.
24:38You have to go to jail for 6 months.
24:40But 5 years has elapsed.
24:425 years has not elapsed.
24:445 years has elapsed.
24:46I don't know.
24:48Please make a highlight here.
24:50Imprisonment is 7 years or more.
24:52You have to say,
24:547 years or more,
24:5610 years, 14 years.
24:58I don't know.
25:00In 14 years,
25:027 years or more,
25:04you can't be eligible to be a director.
25:08Because you have to go to jail for 5 years.
25:10You are going to be a F.I.R. trying.
25:12You have to go to jail for 6 years.
25:14I don't know.
25:16You have to go to jail for 5 years.
25:18They make a name called F.I.R. is like Life is Poilet.
25:22Only the F.I.R. can't go to that and see.
25:26All the police officers.
25:30They give so much importance to the public.
25:34See if they don't have a deal with that, it's not so.
25:40Actually, if you look at the face of the public, they care so much about the public.
25:45So, if you have an offense, conviction, or the act, or the specification of the definition rules,
25:54then you can do it.
25:57Disqualifying order in force.
25:59Disqualifying order in force.
26:01Disqualifying order in force.
26:03So, you cannot be a director.
26:05Please make a note of the F point.
26:07Not paid call money.
26:10In section 179, you can write a call money.
26:17That's why you call money.
26:19Okay?
26:20And 6 months have elapsed from the day 6 to the pay-1-talk column.
26:24Call money.
26:25Put up data.
26:26Call money.
26:28Call money.
26:29Pay time for 6 months.
26:32Then you cannot be a director.
26:34Okay?
26:35So, if you have a condition in later party transactions, you will have a condition in the last 5 years.
26:40If you have a condition in the last 5 years, it will be outdated.
26:43And there is no requirement.
26:46You cannot be a director.
26:48Then you can fulfill the compliance.
26:51And if you have a maximum number of directors, you will have to hold it.
26:55Then you will not be able to hold it.
26:57Alright.
26:58So, if you have 164, you will have a subsection of 1.
27:01You will not be able to hold it.
27:02You will not be able to hold it.
27:04You will not be able to hold it.
27:05Shall I carry over with 2?
27:09So, if you have a disqualification, you will have to hold it.
27:12If you have a reason to implement it,
27:14a person who has been a director of a company,
27:18which has not paid financial returns or annual returns continuously for 3 years.
27:23I told you that there is 3 companies in the X, Y, Z and the other company.
27:26In the X company, you will have to hold it.
27:28So, if you have a continuous amount of transactions,
27:30you will have to hold it.
27:31If you have to hold it, you will have to hold it.
27:33Then you will have to hold it.
27:34Then you will have to hold it with Y and Z company.
27:35Then you will have to hold it.
27:36This is an express disqualification.
27:38We will know the D-point of deposit.
27:41D-payment of deposit,
27:43D-menture's D-Panel,
27:46and extra points.
27:47Dividend is declared as a payment.
27:49D-clared dividend is a liability for the company.
27:51Proposed dividend.
27:53Dividend is declared,
27:55and a gentleman,
27:56one of the ordinary business.
27:57Dividend is declared as a proposal,
27:59and the proposed dividend is a balance sheet.
28:02If you have a balance sheet,
28:04if you have a balance sheet,
28:05declared dividend is a balance sheet.
28:07Proposed dividend is a balance sheet.
28:09So, if you have declared it,
28:11then you will have to hold it.
28:12If you have a payment,
28:14then you are not liable.
28:16You are not qualified to be a director.
28:19So, disqualification.
28:21They shall be eligible to be re-appointed.
28:23Please make a note.
28:25Five years after that.
28:26Five years after that,
28:27the case is on the power side.
28:28We will have to hold it.
28:29So, five years after that,
28:30you can be eligible.
28:31Okay.
28:32Private companies,
28:34there are disqualifications.
28:36Appointment,
28:38what is it?
28:40I am à an error sheet.
28:41Do not have some details at all.
28:42So, your local company would have made this scenario.
28:44Take it to some point.
28:46Basically,
28:47and you would have got 15 directors tomorrow.
28:49Incase 15 directors will be released.
28:50If you have been then,
28:51have to be up to 20 directors.
28:53You can pass out on special resolution.
28:55If a company may 10st is making an 특히 work for interests.
28:58If you have notes in class,
29:00there will be an additionalツ нашего qualification.
29:01And if you feel the device or transaction,
29:03park the company'll be teaching him its work.
29:05So, there are 15 directors in that case.
29:08So, there are 15 directors in that case.
29:11But if you pass a special resolution,
29:14then you will have MGT 14.
29:17Provisor further, at least a woman director
29:20for prescribed companies.
29:23Appointment in other cases,
29:26first directors,
29:29sorry,
29:32if you have a first director,
29:35then subscribe to the first director side.
29:38How do you appoint the first directors?
29:40First directors,
29:41company incorporated,
29:43second general meeting.
29:45If you say resident directors,
29:47independent directors,
29:49then you will appoint board of directors.
29:52Additional director,
29:53alternate director,
29:54nominee director,
29:55casual babysitter,
29:57there are three types of directors.
30:00So, if you have a second general meeting,
30:02you can wait for that.
30:03So, you can include all of that.
30:04You can include all of that.
30:05This is the board of directors.
30:07Next, we will go for retirement
30:09and rotation of directors,
30:10which will be calculation.
30:12What are 10 directors?
30:14Then,
30:152 third of the directors
30:17retire by rotation.
30:18They are called rotation directors.
30:21and then 6.7 to 7,
30:23then 7 directors,
30:24then 7 directors.
30:30Then,
30:35the same directors
30:40will be called rotation.
30:41Then, how do you do it?
30:43It's 6.67.
30:45Then, we do it with 7.
30:47Then, we do it with 6.7.
30:49Then, the 7 directors,
30:51we do it with naming.
30:53The 7 directors is rotational directors.
30:55When you put 7 directors,
30:57it's 1 third.
30:59Then, 2 point something.
31:01So, 2 directors are rotational.
31:03Then, we do it with 2 directors.
31:05In our ordinary business,
31:07we call appointment and reappointment of directors.
31:09Then, we call appointment and reappointment.
31:11We call appointment and reappointment.
31:13Most of the companies, we call appointment and reappointment.
31:15You know,
31:17when the director is on the show,
31:19then, the director is on the show.
31:21Then, we have a general meeting.
31:23So, when the director is on the show,
31:25they have the right to oppose.
31:27So, what do you do?
31:29It's not applicable to the public company.
31:31It's not applicable to the private company.
31:33Usually, 2 third of the directors
31:35and the members of our association,
31:37the directors are rotational directors.
31:39Please make a vote.
31:41In general case,
31:43the total vote of directors,
31:452 third of the directors will retire by rotation.
31:47If you determine,
31:49if you want to join,
31:51then, you don't care.
31:53And it should be expressive.
31:55What is it?
31:57There is a general meeting.
31:59Reminding directors,
32:00there is a non-rotational,
32:01non-retiring,
32:02permanent directors.
32:03So, if you appoint them,
32:05you have articles of association.
32:07In the Reliance company,
32:08who is a permanent director?
32:09Who is it?
32:10Who is it?
32:11Who is it?
32:12Who is it?
32:13So, it happens.
32:14There is a family business.
32:15So, they have the rights.
32:16Okay?
32:17But at the same time,
32:18if the company is ready,
32:19then, the company will follow.
32:20Okay?
32:21And when a director retires by rotation,
32:23the company is ready.
32:24There is a point.
32:25There is a point.
32:26There is a point.
32:27There is a point.
32:28Okay?
32:29Shall I take over?
32:31Section 168.
32:33When a director resigns,
32:35a director gives a notice in writing.
32:38Board of directors,
32:40board meeting in the board meeting.
32:42Then,
32:43when you go to the company,
32:46the form file.
32:48DIR is meant for director's file.
32:50Okay?
32:51We have to CIG.
32:52The DIR is for director's file.
32:53Within 30 days of the receipt of notice.
32:55And it should be posted in the website.
32:57Place the fact in the immediate journal.
33:00Okay?
33:01If the company is ready,
33:03the director is ready to resign.
33:07Then,
33:08DIR is 11.
33:09They have reasons.
33:10They have reasons.
33:11They have reasons.
33:12They have reasons.
33:13They have reasons.
33:14They have reasons.
33:15They have reasons.
33:16They have reasons.
33:17They have reasons.
33:18When I said,
33:20I say that
33:31I will tell my company,
33:32what a general affairs of the project.
33:33Perhaps,
33:34what a general affairs of the project.
33:35Then,
33:36what a date will be.
33:37Okay?
33:38The board meeting is a board meeting for 15 days.
33:43If you say that the board of directors takes known, then the board meeting is a board meeting.
33:47In the board meeting, you will be mentioned in clear data.
33:50What is the date that they resign?
33:53Probably, this is about 15 days.
33:55What is the date that they resign?
33:57The date that they resign?
33:58DIL level?
33:59The e-form is a format, a resignation format.
34:02If you say that the board meeting is a board meeting, then the board meeting is a liability.
34:09In the period of 15 days, the director is like,
34:12what is the penalty?
34:13What is the date?
34:14What is the cost of action?
34:16In the 15 days, the director is a liability.
34:20What is the board meeting?
34:23What is the date of date?
34:25Usually, with immediate effect from the date of notice.
34:31It is not supposed to be a complaint.
34:32If you require compliance or audit or the secretary to the audit,
34:38it is not supposed to be a complaint.
34:40It is not supposed to be any complaint.
34:42It matters a lot.
34:43It is not supposed to be a complaint.
34:46It is not supposed to be a complaint.
34:48That is the company, so it has to be taken out of.
34:50You cannot assume that every 30 days before the board meeting is a bill,
34:53and you can follow it.
34:56Is it ok?
34:57Effectiveness of resignation, if the date is not explained, you will be line by line.
35:01Resignation of all directors, please highlight.
35:04The director is the most important thing.
35:08If you have a promo task,
35:12if you have a promo task,
35:16if you have a promo task,
35:17if you have a promo task,
35:18if you have a promo task,
35:20if you have a promo task,
35:22if you have a promo task,
35:24I am not going line by line.
35:27We can remove the shareholders.
35:29If you have a promo task,
35:30then you will remove the shareholders from the Play through.
35:32Remove by shareholders from the inherent rights.
35:34Because they have the right.
35:35Section 161, they have the clear rights.
35:37They have the complete rights to remove the directors.
35:40They will remove the extraordinary general meetings.
35:43In the ordinary business,
35:44it will need to be an appointment and reappointing.
35:47As far as an extraordinary general meeting,
35:49members can call for the general meeting.
35:51If you have the director to remove the director,
35:53then its tasks will be able to call for meeting.
35:56So, this will be fine.
35:58So, there is proof of mismanagement.
36:00There is proof of mismanagement.
36:02There is proof of mismanagement.
36:04There is proof of mismanagement.
36:06There is also misconduct.
36:08There is no terms of misconduct.
36:10So, probably our company is not available.
36:12That's why we don't have a vacate.
36:14That's why we don't have the case.
36:16That's why we don't have the case.
36:18Channelers, directors
36:20perceive policies.
36:22That's why we removed it.
36:24Why do we remove ordinary resolution?
36:26That's why,
36:28the tribunal will be appointed by the director.
36:30That's why we don't have ordinary resolution.
36:32Usually, if the ordinary resolution is removed,
36:34but if the director is appointed by the tribunal,
36:38then we can do it.
36:40After giving a reasonable notice,
36:42cut time with our write-in,
36:44and his office tickets automatically.
36:46This is not done automatically.
36:48That day.
36:50If you do new director appoint,
36:52you will have a special notice on the details.
36:56So, the new director will hold a formal appointment details.
37:00Normally, the employee will be treated.
37:02The liability of the removed director,
37:06the same date,
37:08the liability will be removed.
37:10So, line by line.
37:12the case will be removed.
37:14Remove by tribunal,
37:16yes.
37:18Remove by tribunal,
37:20yes.
37:22Remove by tribunal,
37:24yes.
37:26Remove by tribunal,
37:28yes.
37:30A court is in the constitution,
37:32Supreme Court,
37:33High Court,
37:34Civil Court,
37:36criminal court are both court.
37:38When you have tribunal,
37:40every court does not conduct any more.
37:42Every court will differentiate.
37:43The court is a tribunal.
37:44Competition tribunal,
37:45the competition act are not based on provisions tribunal.
37:48Then, there are the two tribunal and each other
37:50competition case.
37:52That's why the NCL team, National Company Law Tribunal.
37:56The company law case will be handled.
37:58If you say tribunal, an act will be given to the tribunal.
38:04The court is constitutional error code.
38:06So, the difference is that the tribunal or the particular tribunal can be made.
38:10So, you make an application to the tribunal.
38:13In the case of this, oppression and mismanagement.
38:15In the organization, there is a mismanagement.
38:18If you want to target any particular team, you can do the tribunal.
38:22The problem is you can do the final detail.
38:24You can do the final detail.
38:26You can order the removal of any of the directors.
38:28Not entitled.
38:30Yes, please make an exam.
38:32Not entitled for any compensation.
38:35Once the tribunal is removed,
38:37the loss of officers will be able to get compensation.
38:41Later, they will be able to get compensation.
38:43If there is a BRS compensation, they will be able to get the loss of officers.
38:46He cannot serve as a manager or managing director or director of the company
38:50without leave of the tribunal for a period of 5 years.
38:52They will be able to get the resting period so long.
38:54The case will be taken away.
38:56If you have to terminate the tribunal and set aside.
39:01Without leave of the tribunal,
39:03if you have permission to give the tribunal,
39:05they will act in the company.
39:08See, if a director may be able to take the tribunal,
39:12then it might be a reasonable case.
39:14Reasonable is a severe case in the law.
39:16I will tell you something else.
39:18Remuneration.
39:19Remuneration.
39:20Can I ask you?
39:22Remuneration.
39:23Section 78.
39:24Sorry.
39:25Clause 78 of Section 2.
39:27Defines any money or is equivalent
39:30given or passed to any person for the services rendered by him
39:33and includes purposes also.
39:35I want to highlight this.
39:36So, you refer Income Tax Act.
39:39This is a discussion portion.
39:41Income Tax Act, 1961.
39:43Income Tax Bill is now coming.
39:47So, if you refer to that,
39:49you can define the Under Income Tax Act.
39:51If you refer to the Under Income Tax Act,
39:52then you will be able to do that in the current act.
39:56So, you need not go and refer the whole tax.
39:59You say,
40:00if you refer to that,
40:01it's not enough.
40:02Is it okay?
40:04Yes.
40:05This is an important table.
40:07Overall, maximum managerial remuneration.
40:09This is an important table.
40:10This is a problem.
40:12Let me tell you,
40:14we need to discuss this.
40:15How can 11% of the profits?
40:17What will we discuss?
40:18If you pay employees,
40:20we have to give bonus.
40:21If you pay shareholders,
40:23if they make dividends or a dividend.
40:25If you pay shareholders,
40:27if you pay shareholders,
40:28if you pay shareholders,
40:29then the managerial remuneration.
40:31Short will call MBA.
40:32That's an important table.
40:34Please consider carefully.
40:36Overall profit is 11%.
40:39That is the financial year.
40:43Director. Who is the director?
40:47Managing director, four-time director, manager of public companies.
40:53Who is the maximum remuneration?
40:55Who is the managerial remuneration?
40:58I ask you to remember managerial for maximum remuneration.
41:02If you remember, financial year's net profit is 11% maximum.
41:09That is correct.
41:11If you look at the bonus,
41:158.33% to 20%,
41:1720% is not enough.
41:19That is not net profit.
41:21If you look at the proper surplus,
41:23that is correct.
41:25If remuneration is exceeding the maximum,
41:29that is correct.
41:32If you look at the minimum remuneration,
41:34you have to follow the shooting file.
41:36Okay?
41:38If you look at the minimum remuneration,
41:40you will be confused.
41:42You will be confused.
41:43Now,
41:44in your organization,
41:46you are saying the director and the inclusive.
41:49What organization is managing director?
41:51I am not sure.
41:53In your organization,
41:56that will be a full time director,
42:00that is the whole time director or manager.
42:01That will allow you to reaches 3%.
42:02If I sell a minimum remuneration,
42:06that is the Başka Assembly.
42:07After the problem,
42:08with an attendee,
42:10if you decide that person will be able
42:11to get aurait
42:23One person is 5%, two, three, four, ten.
42:30Let me start from the beginning.
42:37Once you have done it, you should do it, you should do it.
42:42Let me start from the beginning.
42:45You should go over the most directors.
42:48In this case, if you have 11%, you can get a permission from the shareholders.
42:53Second, if you have a management director or a full-time director, you can get 5%.
43:06If you have a director, you can get 6%.
43:10Now, in this third point, you have a management director or a full-time director.
43:19If you have a 5%, then you have 10%.
43:23If you have a full-time director, you can get a full-time director.
43:29It's 5% and you can get 10%.
43:34I want to highlight this word one and more than one.
43:38If you have more than one or two or three, then you will have more than one.
43:42That's why you have maximum 10%.
43:45Once it's clear, it's clear.
43:47If you have more than one, you will have special resolution.
43:50Okay?
43:51Now, you manage this.
43:53There are directors.
43:55There is no managing director or full-time director.
43:59There is a director.
44:01Probably I will name that person as A.
44:04He is just a director.
44:06He is not a managing director.
44:08He is not a whole-time director.
44:09He is not a whole-time director.
44:10There is a maximum one percent.
44:12In case there is a whole-time director.
44:16Okay?
44:18In case there is no one.
44:21Actually, the table must be split.
44:25In the organization, there is no managing director.
44:29There is no one director.
44:31See, there is 11 percent.
44:34There is no managing director.
44:37This team being with senior management name.
44:39You have maximum level of 10 percent.
44:40And a young director will Profile along the 3 million home to one percent.
44:44Using the target would be 5 percent.
44:46With the spending and full-time director only is 10 percent only.
44:48But you have 10 percent who can't manage their whole-time director.
44:50His縁 is a 1 percent.
44:52Your management is 1 percent.
44:56If you say 11% or 11% or 11% or 11% or 11% or 11% or 11% or 11% or 11% or 11% or 11% or 11%.
45:14So, overall maximum manager remuneration.
45:17Prior approval is needed.
45:20You need to pass a special resolution.
45:21When you understand that you need to get a permission from a bank and a public financial institution or a pending.
45:26If you tell them that you are going to justify the pending and directs and it may cause you remuneration.
45:31So, that's logical.
45:33I don't know anything.
45:34If we look at the waterfall arrangement in the watershed, they are going to be looking at the last shareholders.
45:38They are outsiders and they are satisfied and inside us.
45:43So, the only one with the directors, even though there are profits but they are insiders.
45:46So, the bank and public financial institutions have loaned and secured credit because they have a default payment.
45:53Default includes interest and principal.
45:56So, they have a default. You can do that.
45:59And moreover, financial year or net profits.
46:03And the net profits are calculated by income tax.
46:07Accounts of companies are weighted on loan.
46:09Otherwise, you can calculate correctly.
46:13So, if you have an auditory certificate for remuneration, you can pay for this limits.
46:20Is it okay?
46:21This is 197 is a very very famous section.
46:26Overall, maximum management remuneration and management remuneration of absence or inadequacy of profits.
46:32Profit is in line with certain amount.
46:36So, remuneration is rendered in any other capacity.
46:39If you have a professional capacity, you can render it.
46:42There is an interior designer.
46:44There is an interior designer.
46:45The interior designer is specially designed for the project.
46:48So, this is the whole time director and manager included.
46:52Articles of association, there is no special resolution or online resolution.
46:56If you have a special resolution, then you have a special resolution.
47:01Okay?
47:02And it includes rendered by you with any other capacity.
47:04If you have a professional capacity, it'll be a director as a designer.
47:08When you put a project on the interior designer, it translates to 45 days as an engineer.
47:13We work another engineer in order for the future.
47:15The director is a supervisor.
47:16They supervise the capacity but you can have a professional capacity.
47:18Supervise will be able to supervise, but if you work with other capacity, you can do that.
47:25Professional nature or any other capacity, professional nature.
47:31If you have a particular qualification, there is no NRC's nomination and remuneration committee.
47:38That is a list of companies.
47:41If you nominate, you can nominate and you can't get any remuneration.
47:46In other companies, there is no NRC's nomination.
47:50There is no NRC's nomination.
47:53If you have a particular qualification, there is no CFO.
48:00There is no CFO.
48:02If you have a CFO, you can get a CFO.
48:05He is already a CFO.
48:07The CFO will be appointed as Chief Financial Officer.
48:10Our students say that the CFO is a CFO.
48:13They work as a CFO.
48:17They work as a Secretary.
48:20Her designation is still as Chief Accounts Officer.
48:25She is not a CFO.
48:27She is a Chief Accounts Officer.
48:29She is a Chief Accounts Officer.
48:31How is the CFO?
48:32She is a qualified CFO.
48:33She is a qualified CFO.
48:35If you are qualified, you are qualified.
48:36If you are qualified for CFO, you can get a CMA or professional fees.
48:42They are also used to get a CMA.
48:43If you have a nomination and remuneration committee,
48:46If you have a qualification, you can choose to get a CTA.
48:49You can also try to get this.
48:51If you have a qualification, you can do it.
48:53There is no qualification.
48:55There is a city fee.
48:57If you attend a committee meeting,
48:59there is a meeting for the maximum.
49:03There is an independent director.
49:09There is an independent director.
49:11There is a independent director.
49:13He will come to Delhi.
49:15If he is in a flight, he will come to a meeting.
49:17There is a fee.
49:19There is a bus team.
49:21There is a bus team.
49:23There is a bus team.
49:25There is a bus team.
49:27There is a bus team.
49:29There are different fees.
49:31There is a class of companies.
49:33The mode of remuneration is monthly.
49:35The specified percent of the net profits
49:37is a party of vote.
49:39It depends on.
49:41No profits or profits are inadequate.
49:43Please make a note.
49:45Profit is not.
49:47If you don't have 11%, 5%, 10%, 1%,
49:49you can't get a remuneration.
49:51You can't get a remuneration.
49:53Okay.
49:54Exclude.
49:55But if you follow schedule file,
49:57if you follow schedule file,
49:59it is okay.
50:00If you follow schedule file,
50:03we have to get the previous approval from the central government.
50:05If you have to get the previous approval from the central government,
50:07you have to get the buyer sanctioned.
50:09The central government is okay.
50:11If you have the permission for this所 out-of-c과� zde.
50:13If you follow schedule file,
50:15even the same way firm is correct,
50:16we have to increase the amount.
50:18We have to agree معınıless
50:20articles about an association title,
50:21whether second step of Bible пад settled information,
50:22whether we have to Talk on government,
50:23or whether they stick to be an agreement,
50:24the general meeting applies.
50:25You have to apply this únerable of central government.
50:27Do people really get on seat and know where they to fill schedule file,
50:28so you can Zwiding a lot of voter comes from.
50:30If you can college,
50:31And try to schedule file how to fileнить them an exam.
50:32For example,
50:33If you sign up file.
50:34If you go to SC, you can go to schedule 5.
50:36I got this having SC.
50:38You can go to schedule 5.
50:40If you go to schedule 5, you can go to schedule 5.
50:44The Roman letter only is being followed here.
50:48This is an independent character.
50:50This is often repeated.
50:52Not entitled to any stop option.
50:54He is not allowed to share.
50:56He is independent. He should be no way associated.
50:58If you want to meet a meeting,
51:00if you want to share a meeting,
51:02you can hear a different time.
51:04In any very specific event,
51:06if you want to sabe someone like a director,
51:08they have developed you sure.
51:10When you want to talk to a director,
51:12like some director,
51:14your independent director is different.
51:15After getting what he meets
51:17each director is different than that.
51:19You can talk to himself how he until he sees the director's presence.
51:23The person will understand you one aspect of the director's presence that also knows dead.
51:28So why not invite any stop option.
51:30to any stock option. Probably remuneration, city fees.
51:34If you participate in board meeting, if you spend any time, it will reimburse.
51:38Profit related commission, please highlight.
51:42If they grow business, they don't have any idea.
51:46They don't have any idea. They don't have any idea. They don't have any idea.
51:50They don't have a profit related commission, but members approve.
51:54If they want to get excess amount, that has to be returned.
52:00No waiver of record.
52:02Disclosure by listed companies.
52:04If they want to get a vote resolution, they want to disclose.
52:08They want to get a median pension.
52:12Median, right?
52:14The mean, median, vote.
52:18Employees and remuneration are the median value.
52:22You can include a statement.
52:26You can include aggregate remuneration.
52:28You can include a lot of employment.
52:30You can include a lot of salary.
52:32Sometimes, we have four-time director, managing director.
52:34Who is an employee who has excess salary?
52:38You can explain that.
52:40So, the first issue is that,
52:42the engineer has a monthly file act.
52:44He is the chief engineer.
52:46He is the chief engineer.
52:48Sugar factory.
52:50So, why are we going to the employee?
52:54We need to have a proper agreement.
52:56We need to have a proper agreement.
52:58So, why do you have a particular loan?
53:00Why are we going to have a particular loan?
53:02Why are we going to have a capacity?
53:04There is a table.
53:06The table, the recommendation table.
53:07You can't do it.
53:08You can't do it.
53:09You can't do it.
53:10What are you doing?
53:11CA, CA, CA, CA, CA, CA, CA?
53:12Engineer.
53:13They also have the life.
53:14They don't have the life.
53:15They don't have the life.
53:16In the manufacturing center, they don't have the life.
53:17So, if you look at employment,
53:19part of the financial is not less than 5 lakh per month.
53:22For the financial is not less than 60 lakhs.
53:24If you look at 60 lakhs,
53:25if you look at 60 lakhs,
53:26you will approve it.
53:27That's why you will fix 5 lakhs.
53:285 lakhs are only 60 lakhs.
53:30That's why you fix it.
53:32And the agreement,
53:33the agreement,
53:34the agreement,
53:35the agreement is drawn in excess,
53:36by managing.
53:37If you said that,
53:38the engineer will be enough.
53:39If you look at this,
53:40you will be enough,
53:41you will be enough,
53:42along with the spouse's dependency.
53:44So,
53:45if you look at the employee,
53:47you will be enough,
53:48you will have 10% of the employee.
53:49It's not a employee.
53:50To talk about the director,
53:52the second point,
53:53you will have to talk about the employee.
53:54That's the director.
53:55But who is the director?
53:56Who is the director?
53:57The director is not a major share.
53:59If you look at the spouse's dependency,
54:01or the dependent child.
54:03Independent child,
54:04or dependent child.
54:05Dependent child is a definition.
54:07So,
54:08the same category,
54:092% equity share,
54:10the name is not a mistake,
54:12which means corporate.
54:13Most important.
54:14And,
54:15if you look at the designation,
54:16any reputation,
54:17any qualification,
54:18any quality data,
54:19any qualification,
54:20any experience,
54:21any employment,
54:22any age,
54:23any last employment,
54:24any equity share,
54:25any equity share,
54:26any director,
54:27any relative or manager.
54:29And,
54:30insurance for indemnification.
54:32So,
54:33we will have to say,
54:34the KMP insurance.
54:35Okay,
54:36key manage,
54:37that's the key.
54:38That's not true.
54:39Okay,
54:40the KMP is not a mistake.
54:41They are negligent,
54:42decoyed,
54:43misfeasions,
54:44breach of duty,
54:45breach of trust.
54:46If you look at the company,
54:47if you look at the company,
54:48you will have to say,
54:49if you look at the company,
54:50you will have to say,
54:51insurance for indemnification.
54:53If you look at the company,
54:54you will have to say,
54:55the director,
54:56your disqualification,
54:58you will have to say,
55:00usually,
55:01there are other directors' commission,
55:02please.
55:03Okay.
55:04Let's look at this.
55:06What company is,
55:07this would be a subsidiary company.
55:10Okay,
55:11not a holding company,
55:12you will be a current company.
55:14This also is a subsidiary company.
55:16You will have a company,
55:17you will have a business commission,
55:19and you will have a holding company.
55:21You will have a business commission.
55:24But we will discuss it.
55:26If you follow the penalty,
55:29the fine is coming.
55:31The company is coming.
55:33Actually, the content is not easy to create.
55:38If you tell them how to do it,
55:40if you tell them how to do it,
55:42if you treat it like this,
55:44you will treat it like this.
55:46You can tell them how to do it.
55:48But the content is easy.
55:50Yes, 179.
55:52The power of the board of directors.
55:54Please make a note,
55:56if you have to write the power of directors,
55:58I will not say power of directors.
56:00There are not direct powers.
56:02There are also direct powers.
56:04There are not direct powers.
56:06The board has direct powers.
56:08There are delegated powers.
56:10Okay.
56:12Subsection 1.
56:14All such powers.
56:16All such acts and things
56:18are authorized by the company.
56:20Proviso.
56:22Subject Act.
56:23Subject Memorandum Association.
56:24Subject Articles of Association.
56:26Regular incidents and inconsistency.
56:28We will check that in general meeting.
56:30We will check that in general meeting.
56:32And Proviso.
56:34Not by board of directors.
56:36Especially section 1.8.
56:38And then we will discuss.
56:40In the general meeting.
56:41Do not have to answer.
56:42No.
56:44No.
56:45No.
56:46No.
56:47No.
56:48No.
56:49No.
56:50No.
56:51No.
56:52No.
56:53So, we will ratify.
56:55And not to invalidate prior acts.
56:58If there are 30 acts, we will invalidate.
57:00So, we will follow the regulations.
57:03And 173, yes, we will have a little note.
57:06If you want to make a resolution in a board meeting,
57:11you will have 1 and 2.
57:12There is a board to make calls.
57:17Unpaid calls, call money.
57:20Authorize buyback of shares.
57:23Securities issues, even debentures issues.
57:26In or outside India.
57:28Money borrow.
57:30Actually, money borrow.
57:32M.O.A. or borrowing powers.
57:34Boring powers.
57:36Invest the funds of the company.
57:39Loads provide, guarantee provide,
57:42security grade, charge grade.
57:45Financial statements approve.
57:48Financial statements open,
57:49you have a sign.
57:51If you approve, you have a sign.
57:53If you approve, you will approve.
57:54You will have a general meeting.
57:56If you approve, you will approve.
57:58Approval is not the direct.
58:00If you approve, you will approve.
58:02You will approve.
58:03Business are diversified.
58:05Yes, they have the rights.
58:06They have the rights.
58:08So, you will go to general meeting.
58:10Amalgamation, merger, reconstruction.
58:12This bussутly and newance they have the rights.
58:14After one time, they will approve.
58:16Competition authorities will approve permission.
58:18They will use an emails.
58:19They will approve a controlling or substantial stake.
58:21A roll of other companies.
58:23No matter what they do.
58:24Any other matters.
58:25No matter where they will be.
58:26If you pass a masses of duty.
58:27If you pass a committee.
58:28If you pass a special manager.
58:29If you pass a manager.
58:30If you pass a manager.
58:32See, board of directors is in a collective sense based on that individual person is in a collective sense.
58:39The delegation of duty is in a branch office, the principal officer of the branch office is in a branch office.
58:44The provisor for the banking company, the deposit of acceptance of deposits,
58:48we will treat the order of business.
58:51We will go for the next page.
58:54It shall not be deemed to be a borrowing of money.
58:56If you have a bank company, it will not be deemed to be a bank company.
58:58So, we will treat the order of money.
59:02That's all.
59:04So, that's it.
59:06If you look at section 139, if you look at section 180,
59:09if you look at the material, I will just check with the updated material.
59:14I will discuss the next page.
59:16If you look at the next page, I will discuss the next page.
59:19If you look at section 139, I will include it.
59:23In the next page, if you look at section 139, probably I will follow that from section 139.
59:27189 is important, but it is important.
59:29Thank you for joining us.
59:31Thanks for joining us.

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