Vacation of office by

directors
GROUNDS
Unsound Mind

Disqualified by an
order

Insolvent

Fails to pay any call

money
Removal of directors. (Sec. 284)

The Share Holders.

The Central Govt.

The CLB.
 Removal by Share Holders.

• By Ordinary Resolution.
• Special notice.
• Inform Director Concerned.
• Right to make Representation.
• Special Notice required for Appointment.
• Filling of vacancy.
• Compensation.
 Removal by Central Govt.
• Persons in the conduct a Management guilt of
Fraud.
• Business managed without sound business
principles.
• Against Interest of Trade.
• Intent of defraud Creditors.
 Meeting of directors

Duration Notice Quorum Adjournment

Given in
Till the same
At least once Written to 1/3 of its
in 3 month. every Total Strength day in the
Director. next week.

At least 4 2 Directors. At the same

If Fails,fine of
such meeting Whichever is Time &
Rs.1,000.
in a year. Higher.
Place.
 General Powers of Board.
Competent to do ●
Exercise all powers & act as a Co. can do.
act which Co. can ●
Shall not exercise which is required to be
exercised in general meeting.
do.

Powers to be ●
To make call.
exercised at ●
To issue debentures.
meeting of board .
●
To Grant Loans.

Other ●
To appoint as Managing Director or Manager.
●
To give Declaration of solvency.
Powers.
Power exercised with the Approval of Co. in
General Meeting
Sale of Undertaking.

Remission of time.

Investment of Compensation Proceeds.

Borrowing more than Equity.

Contribution to charities.
Contribution to National Defense Fund.

No limit as to Amt ●
A Co. may contribute as he thinks fit
To the National Defence Fund.
of Contribution.
●

Power to be •Any person Exercising the power of BOD.

•By BOD.
exercised by Board.

Disclosure in ●
Shall Disclose in Profit & loss A/c.
●
Total Amt contributed in the Financial year.
P/L A/c.