What is constitution of board of company law administration?

What is constitution of board of company law administration?

(1) As soon as may be after the commencement of the Companies (Amendment) Act, 1963, the Cent-ral Government shall, by notification in the Official Gazette, constitute a Board to be called the Board of Company Law Administration to exercise and discharge such powers and functions conferred on the Central Government by …

Which section of Companies Act provides for board of directors?

Section 149(1)
Section 149(1) of the Companies Act, 2013 requires that every company shall have a minimum number of 3 directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company. A company can appoint maximum 15 fifteen directors.

What are the statutory powers of board of directors?

Thus, the board of directors can exercise the following powers, only by passing a resolution in the meetings of the board:

  • Make calls on shareholders.
  • Authorise the buyback of securities and shares.
  • Issue securities and shares.
  • Borrow monies.
  • Investing the funds.
  • Grant loans.
  • Approve the financial statement.

How many members are there in private company?

Minimum 2 and maximum 200 members: A private company can have a minimum of just two members (but just one is enough if it a One Person Company), and a maximum of up to 200 members. Transferability of shares restricted: Private companies cannot freely transfer their shares to the public like public companies.

Is Sunday a national holiday as per Companies Act 2013?

As per sub-section (2) of section 96 of the Companies Act, 2013, an annual general meeting of companies shall not be held on a National Holiday. And, as per the Explanation given under the said sub-section (2), “National Holiday” means and includes a day declared as a National Holiday by the Central Government.

What is the maximum number of members in private company?

The maximum number of members in a private limited company is 50. According to the provisions of Companies Act 2013, Private limited company can be started with minimum 2 members and maximum 50 members.

What is limit of members in case of private company?

Number of Members: In case of private companies, the maximum limit has been increased by the new Companies Act, 2013 from 50 to 200. There is however no maximum limit on the no. of members in a public company. The minimum number of members in case of a public company is seven and in case of a private company is 2.