Company Administration Very Short Answer Type Questions
Give the meaning of routine secretary.
When a secretary acts as an agent and registrar of the company he is called a routine Secretary.
Who is a director of a company?
Any person occupy the position of a director to perform the functions of a company is called as director of a company.
Who is pro-term Secretary?
Pro-term secretary is the Provisional secretary appointed during pre-incorporation stage of the company.
Who is a Managing Director of a company?
Managing director is director of a Company acts as a chief executive officer and attend the day to day administration of the company.
Who is a Company Secretary?
Any individual possessing the prescribed qualifications appointed to perform the duties which may be performed by a secretary under the companies act and any other ministerial or k administrative duties.
Who is an executive Secretary?
Directors of the company may delegate power of management to secretary to executive it in the company. Such secretaries are called as executive secretary.
What is the duty of company secretary under Indian stamp act?
Secretary is responsible for verifying the documents and their correctness needing stamps.
What is the legal position of the company secretary?
As per the company act secretary is recognised as the Principal officer of the company. He is responsible for administrative work of the company.
Give the meaning of whole time director.
Whole director is a director who is in the whole time employment of the company.
Who is executive director?
Executive director is either managing director or whole time director of the company
Who is called as shadow Director?
Shadow director is a person not appointed to the board but on his direction the board is accustomed to act and is liable as a director of the company shadow director is also called as officer in default.
Who is defacto director?
Defacto director is a person who is not actually appointed as a director but acts as a director and is held out by the company defacto director is liable as a director under the companies act.
Who are having right to remove the director of the company?
Share holders, central government and court order.
What is the legal position of the director on a company?
Director can act as agent, trustee, or managing partner on behalf of the company.
Give the meaning of board of directors?
Board of directors means the directors of a company collectively constitute the board of directors of the company.
Who is manager of a company?
Manager means an individual who subject to the super intendance control and direction of the board of directors has the management of the whole of the affairs of the company.
Give the meaning of doctrine of indoor management.
Doctrine of indoor management means doctrine declaring the outsiders that the outsiders dealing with company are bound to read the registered document and see that the proposed dealings and apparently regular and consistent with the memorandum of association and articles of association.
Write any two difference between whole time director and managing director of a company.
The following are the difference between whole time director and managing director of a company.
(a) Whole time director is an employee of the company but managing director is management leader and enjoys powers of the company.
(b) Appointment of whole time director required the sanction of share holders by means of special resolution but appointment of managing director does not require the sanction of the shareholders.
Who is the auditor of the company?
Auditor is an agent of the shareholders he is qualified chartered accountant appointed for the purpose of examining the books of accounts of joint stock company.
Give the meaning of CSR.
CSR means corporate social responsibility according to Company Act 2013 CSR means Indian companies requiring to formulate a corporate social responsibility by incurring minimum expenditure on social activities.
What are the disqualification of auditor?
- Body corporate.
- An officer or employee of the company.
- Partner who is indebted to the company.
Are disqualifies from being appointed as a auditor of a company.
Who is solicitor of a company?
Solicitor is a legal‘expert acts as a legal adviser of the company, he is a servant of the company he is appointed by the director or any other officer of the company.
What is CSR committee.
Under section 135 of companies act 2013 CSR means corporate social responsibility committee which means every company having net worth of rupees 500 crore or more or turnover of 1000 crore or more or more or a net profit of 5 crore or more during any financial year shall constitute CSR committee.
What are the functions of CSR committee.
CSR committee shall:
- Formulate and recommend to the Board a CSR policy.
- CSR policy shall indicate the activities to be under taken by the company as specified in schedule VII.
- CSR committee recommend the amount of expenditure to be incurred on the each mentioned activities.
- Monitor the CSR policy of the company time to time.
Who is an independent director?
According to Section 149(6) an independent director is an alternate director other than a Managing Director which is known as Whole Time Director Or Nominee Director. According to Rule 4 of Companies (Appointment and Qualification of Directors) Rules, 2013 these are the following type of companies which have to appoint minimum 2 independent directors:
- Public Companies which have Paid-up Share Capital-Rs.10 Crores or More
- Public Companies which have Turnover- Rs.100 Crores or More
- Public Companies which have total outstanding loans, debenture, and deposits of Rs. 50 Crores or More.
Who is a residential director?
According to Section 149(3) of Companies Act,2013, Every company should appoint a director who has stayed in India for a total Period of not less than 182 days in the previous calendar yea
Who is a shadow director?
A person who is not the member of Board but has some power to run it can be appointed as the director but according to his/her wish.
Who is a women director?
As per Section 149 (1) (a), there are certain categories according to which there should be at least one woman as a director on the Board. Such companies are any listed company or any public company having. There are types of directors in women director also.
State the minimum directors required in a company.
- One Person Company: One Director
- Private Limited Company: Two Directors.
- Public Limited Company: Three Directors.
State any two responsibilities of board of directors.
Determining the company’s strategic objectives and policies.
Monitoring progress towards achieving the objectives and policies.
Appointing senior management.
Accounting for the company’s activities to relevant parties, e.g. shareholders