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  • Board of Directors

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    Zuzer Merchant
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    The document outlines the responsibilities and authorities of the Managing Director and other roles within a company. It states that the Managing Director has general management of the business and authority to make purchases, sales, contracts and other usual business activities. The Managing Director can appoint and remove managers, engineers, clerks and other employees. All financial documents like bills, notes, checks can be signed by the Managing Director or other Directors appointed for this purpose. The Managing Director can sub-delegate any powers and authorities and appoint attorneys to manage company affairs. The Secretary is appointed by the Directors for a term and remuneration as determined by them and can be removed by the Directors. The Directors are responsible for safekeeping the company seal which must be used with the

    Original Description:

    The general management of the business of the Company shal1 be in the hands of the Managing t)irector of the Company who shall have power and authority on behalf of the Company to make all purchase and sales and enter into all contracts and do all other things usual, necessary or desirable in the management of the Company or in carrying out its objects and shall have power to appoint and employ or the purpose of the transaction and management of the affairs and business of the Company or otherwise and from time to tirne to remove or suspend such managers, engineers, clerks and other employees as he shal1 thhk proper with such power and duties uPon such terms as to the duration of employment, remuneration or otherwise as he shall think proper;

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    board of directors

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    The document outlines the responsibilities and authorities of the Managing Director and other roles within a company. It states that the Managing Director has general management of the business and authority to make purchases, sales, contracts and other usual business activities. The Managing Director can appoint and remove managers, engineers, clerks and other employees. All financial documents like bills, notes, checks can be signed by the Managing Director or other Directors appointed for this purpose. The Managing Director can sub-delegate any powers and authorities and appoint attorneys to manage company affairs. The Secretary is appointed by the Directors for a term and remuneration as determined by them and can be removed by the Directors. The Directors are responsible for safekeeping the company seal which must be used with the

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views1 page

    Board of Directors

    Uploaded by

    Zuzer Merchant
    The document outlines the responsibilities and authorities of the Managing Director and other roles within a company. It states that the Managing Director has general management of the business and authority to make purchases, sales, contracts and other usual business activities. The Managing Director can appoint and remove managers, engineers, clerks and other employees. All financial documents like bills, notes, checks can be signed by the Managing Director or other Directors appointed for this purpose. The Managing Director can sub-delegate any powers and authorities and appoint attorneys to manage company affairs. The Secretary is appointed by the Directors for a term and remuneration as determined by them and can be removed by the Directors. The Directors are responsible for safekeeping the company seal which must be used with the

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    23 Unless otherwise directed by the Board of Directors: -

    (a) The general management of the business of the Company shal1 be in the
    hands of the Managing t)irector of the Company who shall have power and
    authority on behalf of the Company to make all purchase and sales and enter
    into all contracts and do all other things usual, necessary or desirable in the
    management of the Company or in carrying out its objects and shall have
    power to appoint and employ or the purpose of the transaction and
    management of the affairs and business of the Company or otherwise and
    from time to tirne to remove or suspend such managers, engineers, clerks and
    other employees as he shal1 thhk proper with such power and duties uPon
    such terms as to the duration of employment, remuneration or otherwise as
    he shall think proper;
    (b) Atl bills of exchange, promissory notes, cheques and negotiable instruments
    and receipts and discharges and o*rer papers requisite in the ordinary course
    of business shal1 be drawn, endorsed, accepted, signed and executed by the
    Managing Director or by any one or two Directors of the Company appointed
    for such purpose either by the Managing Director or by the Board of
    Directors as may be the case and the receipts so signed for any moneys or
    goods or property lent or payable or belonging to the Company for the
    moneys, funds or properly which in such receipts shall be acknowledged to
    be received and the person paying any such moneys shall not be bound to see
    to the application and to be answerable for misapplication thereof; and
    (c) The Managing Director is authorised to sub-delegate all or any of the powers,
    authorities and discretions for the time being vested in him, and in particular
    from time to time to provide by appointment of an attorney or attorneys for
    the management and transaction of the affairs of the company in any manner
    as he mav think fit.
    SECRETARY
    24 The Secretary shall be appointed by the directors for such term, at such
    remuneration and upon such conditions as they may think fit and any Secretary
    so appointed may be removed by them.
    SEAL
    25
    '[he
    Directors shall provide for the safe custody of the seal, which shall only be
    used by the authority of the Directors and every instrument to which the seal
    shall be affixed shall be signed by a Director and shall be countersigned by the
    Secretary or by a second Director or by some other person appointed by the
    llirectors for the purpose.

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