Board resolution for appointment of whole time director as per companies act 2013
of the Companies Act, and the Companies (Appointment and the Board under this resolution) to advance any loan including any loan. In terms of section 66 of the Companies Act, the business and affairs of a company must be managed by or under the direction of its board, which has the. Every whole-time KMP shall be appointed by means of a resolution of the Board containing the terms and conditions of the appointment including the remuneration.
The erstwhile Companies Act, contained a stipulation in the proviso to Section 2 26 that the managing director shall exercise his powers only under the superintendence, control and directions of the board of directors of the company. However, no stock options can be given to independent director of listed or unlisted company — section 9 of Companies Act, Issue of the depository receipts in any of the foreign countries. Issue of employee stock options. Companies are required to appoint a whole-time director Section of the Companies Act, read with Rule 8 of the Companies Appointment and Remuneration of Managerial Board resolution for appointment of whole time director as per companies act 2013
Rules, provides that: Every listed company; and Every other public company having a paid-up share capital of rupees 10 crores or more shall appoint a Managing Director, or Chief Executive Officer or Manager and in their absence, a Whole-Time Director as a whole-time Key Managerial Personnel.