Section - 152, Companies Act, 2013 Appointment of directors. 152. (1) Where no provision is made in the articles of a company for the appointment of the first director, the subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed and in…...
Appointment of director elected by small shareholders. Section – 151, Companies Act, 2013
Section - 151, Companies Act, 2013 Appointment of director elected by small shareholders. 151. A listed company may have one director elected by such small shareholders in such manner and with such terms and conditions as may be prescribed. Explanation.—For the purposes of this section "small shareholders" means a shareholder holding shares of nominal value of…...
Manner of selection of independent directors and maintenance of databank of independent directors. Section – 150, Companies Act, 2013
Section - 150, Companies Act, 2013 Manner of selection of independent directors and maintenance of databank of independent directors. 150. (1) Subject to the provisions contained in sub-section (6) of section 149, an independent director may be selected from a data bank containing names, addresses and qualifications of persons who are eligible and willing to act…...
Company to have Board of Directors. Section – 149, Companies Act, 2013
Section - 149, Companies Act, 2013 CHAPTER XI APPOINTMENT AND QUALIFICATIONS OF DIRECTORS Company to have Board of Directors. 149. (1) Every company shall have a Board of Directors consisting of individuals as directors and shall have— (a) a minimum number of three directors in the case of a public company, two directors in the case…...
Central Government to specify audit of items of cost in respect of certain companies. Section – 148, Companies Act, 2013
Section - 148, Companies Act, 2013 Central Government to specify audit of items of cost in respect of certain companies. 148. (1) Notwithstanding anything contained in this Chapter, the Central Government may, by order, in respect of such class of companies engaged in the production of such goods or providing such services as may be prescribed,…...
Punishment for contravention. Section – 147, Companies Act, 2013
Section - 147, Companies Act, 2013 Punishment for contravention. 147. (1) If any of the provisions of sections 139 to 146 (both inclusive) is contravened, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who…...
Auditors to attend general meeting. Section – 146, Companies Act, 2013
Section - 146, Companies Act, 2013 Auditors to attend general meeting. 146. All notices of, and other communications relating to, any general meeting shall be forwarded to the auditor of the company, and the auditor shall, unless otherwise exempted by the company, attend either by himself or through his authorised representative, who shall also be qualified…...
Auditor to sign audit reports, etc. Section – 145, Companies Act, 2013
Section - 145, Companies Act, 2013 Auditor to sign audit reports, etc. 145. The person appointed as an auditor of the company shall sign the auditor's report or sign or certify any other document of the company in accordance with the provisions of sub-section (2) of , and the qualifications, observations or comments on financial transactions…...
Auditor not to render certain services. Section – 144, Companies Act, 2013
Section - 144, Companies Act, 2013 Auditor not to render certain services. 144 . An auditor appointed under this Act shall provide to the company only such other services as are approved by the Board of Directors or the audit committee, as the case may be, but which shall not include any of the following services…...
Powers and duties of auditors and auditing standards. Section – 143, Companies Act, 2013
Section - 143, Companies Act, 2013 Powers and duties of auditors and auditing standards. 143. (1) Every auditor of a company shall have a right of access at all times to the books of account and vouchers of the company, whether kept at the registered office of the company or at any other place and shall…...