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Companies Law

Home Acts & Rules Companies Law Old_Provisions Companies Act, 1956 Chapter VI = MANAGEMENT AND ADMINISTRATION Chapters List This

MANAGEMENT AND ADMINISTRATION - Companies Act, 1956

Chapter: VI
MANAGEMENT AND ADMINISTRATION
Section 146 : Registered office of company.
Section 147 : Publication of name by company.
Section 148 : Publication of authorised as well as subscribed and paid-up capital.
Section 149 : Restrictions on commencement of business.
Section 150 : Register of members.
Section 151 : Index of members.
Section 152 : Register and index of debenture holders.
Section 152A : Register and index of beneficial owners to be of debenture holder.
Section 153 : Trusts not to be entered on register.
Section 153A : Appointment of public trustee.
Section 153B : Declaration as to shares and debentures held in trust.
Section 154 : Power to close register of members or debenture holders.
Section 155 : Power of Court to rectify register of members.
Section 156 : Notice to Registrar of rectification of register.
Section 157 : Power for company to keep foreign register of members or debenture holders.
Section 158 : Provisions as to foreign registers.
Section 159 : Annual return to be made by company having a share capital.
Section 160 : Annual return to be made by company not having a share capital.
Section 161 : Further provisions regarding annual return and certificate to be annexed thereto.
Section 162 : Penalty and interpretation.
Section 163 : Place of keeping, and inspection of registers and returns.
Section 164 : Registers, etc., to be evidence.
Section 165 : Statutory meeting and statutory report of company.
Section 166 : Annual general meeting.
Section 167 : Power of Central Government to call annual general meeting.
Section 168 : Penalty for default in complying with section 166 or 167.
Section 169 : Calling of extraordinary general meeting on requisition.
Section 170 : Sections 171 to 186 to apply to meetings.
Section 171 : Length of notice for calling meeting.
Section 172 : Contents and manner of service of notice and persons on whom it is to be served.
Section 173 : Explanatory statement to be annexed to notice
Section 174 : Quorum for meeting.
Section 175 : Chairman of meeting.
Section 176 : Proxies.
Section 177 : Voting to be by show of hands in first instance.
Section 178 : Chairman's declaration of result of voting by show of hands to be conclusive.
Section 179 : Demand for poll.
Section 180 : Time of taking poll.
Section 181 : Restriction on exercise of voting right of members who have not paid calls, etc.
Section 182 : Restrictions on exercise of voting right in other cases to be void.
Section 183 : Right of member to use his votes differently.
Section 184 : Scrutineers at poll.
Section 185 : Manner of taking poll and result thereof.
Section 186 : Power of Tribunal to order meeting to be called.
Section 187 : Representation of corporations at meetings of companies and of creditors.
Section 187A : Representation of the President and Governors in meetings of companies of which they are members.
Section 187B : Exercise of voting rights in respect of shares held in trust.
Section 187C : Declaration by persons not holding beneficial interest in any share.
Section 187D : Investigation of beneficial ownership of shares in certain cases.
Section 188 : Circulation of members' resolutions.
Section 189 : Ordinary and special resolutions.
Section 190 : Resolutions requiring special notice.
Section 191 : Resolutions passed at adjourned meetings.
Section 192 : Registration of certain resolutions and agreements.
Section 192A : Passing of resolutions by postal ballot.
Section 193 : Minutes of proceedings of general meetings and of Board and other meetings.
Section 194 : Minutes to be evidence.
Section 195 : Presumptions to be drawn where minutes duly drawn and signed.
Section 196 : Inspection of minute books of general meetings.
Section 197 : Publication of reports of proceedings of general meetings.
Section 197A : Company not to appoint or employ certain different categories of managerial personnel at the same time.
Section 198 : Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.
Section 199 : Calculation of commission, etc., in certain cases.
Section 200 : Prohibition of tax-free payments.
Section 201 : Avoidance of provisions relieving liability of officers and auditors of company.
Section 202 : Undischarged insolvent not to manage companies.
Section 203 : Power to restrain fraudulent persons from managing companies.
Section 204 : Restriction on appointment of firm or body corporate to office or place of profit under a company.
Section 204A : Restrictions on the appointment of former managing agents or secretaries and treasurers to any office.
Section 205 : Dividend to be paid only out of profits.
Section 205A : Unpaid dividend to be transferred to special dividend account.
Section 205B : Payment of unpaid or unclaimed dividend.
Section 205C : Establishment of Investor Education and Protection Fund.
Section 206 : Dividend not to be paid except to registered shareholders or to their order or to their bankers.
Section 206A : Right to dividend, rights shares, and bonus shares to be held in abeyance pending registration of transfer of shares.
Section 207 : Penalty for failure to distribute dividends within thirty days.
Section 208 : Power of company to pay interest out of capital in certain cases.
Section 209 : Books of account to be kept by company.
Section 209A : Inspection of books of account, etc., of companies.
Section 210 : Annual accounts and balance sheet.
Section 210A : Constitution of National Advisory Committee on Accounting Standards.
Section 211 : Form and contents of balance sheet and profit and loss account.
Section 212 : Balance sheet of holding company to include certain particulars as to its subsidiaries.
Section 213 : Financial year of holding company and subsidiary.
Section 214 : Rights of holding company's representatives and members.
Section 215 : Authentication of balance sheet and profit and loss account.
Section 216 : Profit and loss account to be annexed and auditors' report to be attached to balance sheet.
Section 217 : Board's report.
Section 218 : Penalty for improper issue, circulation or publication of balance sheet or profit and loss account.
Section 219 : Right of member to copies of balance sheet and auditors' report.
Section 220 : Three copies of balance sheet, etc., to be filed with Registrar.
Section 221 : Duty of officer to make disclosure of payments, etc.
Section 222 : Construction of references to documents annexed to accounts.
Section 223 : Certain companies to publish statement in the Form in Table F in Schedule I.
Section 224 : Appointment and remuneration of auditors.
Section 224A : Auditor not to be appointed except with the approval of the company by special resolution in certain cases.
Section 225 : Provisions as to resolutions for appointing or removing auditors.
Section 226 : Qualifications and disqualifications of auditors.
Section 227 : Powers and duties of auditors.
Section 228 : Audit of accounts of branch office of company.
Section 229 : Signature of audit report, etc.
Section 230 : Reading and inspection of auditor's report.
Section 231 : Right of auditor to attend general meeting.
Section 232 : Penalty for non-compliance with sections 225 to 231.
Section 233 : Penalty for non-compliance by auditor with sections 227 and 229.
Section 233A : Power of Central Government to direct special audit in certain cases.
Section 233B : Audit of cost accounts in certain cases.
Section 234 : Power of Registrar to call for information or explanation.
Section 234A : Seizure of documents by Registrar.
Section 235 : Investigation of the affairs of a company.
Section 236 : Application by members to be supported by evidence and power to call for security.
Section 237 : Investigation of company's affairs in other cases.
Section 238 : Firm, body corporate or association not to be appointed as inspector.
Section 239 : Power of inspectors to carry investigation into affairs of related companies, etc
Section 240 : Production of documents and evidence.
Section 240A : Seizure of documents by inspector.
Section 241 : Inspectors' report.
Section 242 : Prosecution.
Section 243 : Application for winding up of company or an order under section 397 or 398.
Section 244 : Proceedings for recovery of damages or property.
Section 245 : Expenses of investigation.
Section 246 : Inspectors' report to be evidence.
Section 247 : Investigation of ownership of company.
Section 248 : Information regarding persons having an interest in company or in body corporate or firm acting as managing agent thereof.
Section 249 : Investigation of associateship with managing agent, etc.
Section 250 : Imposition of restrictions upon shares and debentures and prohi­bition of transfer of shares or debentures in certain cases.
Section 250A : Voluntary winding-up of company, etc., not to stop investigation proceedings.
Section 251 : Saving for legal advisers and bankers.
Section 252 : Minimum number of directors.
Section 253 : Only individuals to be directors.
Section 254 : Subscribers of memorandum deemed to be directors.
Section 255 : Appointment of directors and proportion of those who are to retire by rotation.
Section 256 : Ascertainment of directors retiring by rotation and filling of vacancies.
Section 257 : Right of persons other than retiring directors to stand for directorship.
Section 258 : Right of company to increase or reduce the number of directors.
Section 259 : Increase in number of directors to require Government sanction.
Section 260 : Additional directors.
Section 261 : Certain persons not to be appointed directors, except by special resolution.
Section 262 : Filling of casual vacancies among directors.
Section 263 : Appointment of directors to be voted on individually.
Section 263A : Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc.
Section 264 : Consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the Registrar.
Section 265 : Option to company to adopt proportional representation for the appointment of directors.
Section 266 : Restrictions on appointment or advertisement of director.
Section 266A : Application for allotment of Director Identification Number.
Section 266B : Allotment of Director Identification Number.
Section 266C : Prohibition to obtain more than one Director Identification Number.
Section 266D : Obligation of director to intimate Director Identification Number to concerned company or companies.
Section 266E : Obligation of company to inform Director Identification Number to Registrar.
Section 266F : Obligation to indicate Director Identification Number.
Section 266G : Penalty for contravention of provisions of section 266A or section 266C or section 266D or section 266E.
Section 267 : Certain persons not to be appointed managing directors.
Section 268 : Amendment of provision relating to managing, whole-time or non-rotational directors to require Government approval.
Section 269 : Appointment of managing or whole-time director or manager to require Government approval only in certain cases.
Section 270 : Time within which share qualification is to be obtained and maximum amount thereof.
Section 271 : Filing of declaration of share qualification by director.
Section 272 : Penalty.
Section 273 : Saving.
Section 274 : Disqualifications of directors.
Section 275 : No person to be a director of more than [fifteen companies].
Section 276 : Choice to be made by director of more than [fifteen] companies at commencement of Act.
Section 277 : Choice by person becoming director of more than [fifteen] companies after commencement of Act.
Section 278 : Exclusion of certain directorships for the purposes of sections 275, 276 and 277.
Section 279 : Penalty.
Section 280 : Age limit.
Section 281 : Age limit not to apply if company so resolves.
Section 282 : Duty of director to disclose age.
Section 283 : Vacation of office by directors.
Section 284 : Removal of directors.
Section 285 : Board to meet at least once in every three calendar months.
Section 286 : Notice of meetings.
Section 287 : Quorum for meetings.
Section 288 : Procedure where meeting adjourned for want of quorum.
Section 289 : Passing of resolutions by circulation.
Section 290 : Validity of acts of directors.
Section 291 : General powers of Board.
Section 292 : Certain powers to be exercised by Board only at meeting.
Section 292A : Audit Committee.
Section 293 : Restrictions on powers of Board.
Section 293A : Prohibitions and restrictions regarding political contributions.
Section 293B : Power of Board and other persons to make contributions to the National Defence Fund, etc.
Section 294 : Appointment of sole selling agents to require approval of company in general meeting.
Section 294A : Prohibition of payment of compensation to sole selling agents for loss of office in certain cases.
Section 294AA : Power of Central Government to prohibit the appointment of sole selling agents in certain cases.
Section 295 : Loans to directors, etc.
Section 296 : Application of section 295 to book debts in certain cases.
Section 297 : Board's sanction to be required for certain contracts in which particular directors are interested.
Section 298 : Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc.
Section 299 : Disclosure of interest by director.
Section 300 : Interested director not to participate or vote in Board's proceedings.
Section 301 : Register of contracts, companies and firms in which directors are interested.
Section 302 : Disclosure to members of directors interest in contract appointing manager, managing director, managing agent or secretaries and treasurers.
Section 303 : Register of directors etc.
Section 304 : Inspection of the register.
Section 305 : Duty of directors, etc. to make disclosure.
Section 306 : Register to be kept by Registrar and inspection thereof.
Section 307 : Register of directors' shareholdings, etc.
Section 308 : Duty of directors and persons deemed to be directors to make disclo­sure of shareholdings.
Section 309 : Remuneration of directors.
Section 310 : Provision for increase in remuneration to require Government sanction.
Section 311 : Increase in remuneration of managing director on re-appointment or appointment after Act to require Government sanction.
Section 312 : Prohibition of assignment of office by director.
Section 313 : Appointment and term of office of alternate directors.
Section 314 : Director, etc., not to hold office or place of profit.
Section 315 : Application of sections 316 and 317.
Section 316 : Number of companies of which one person may be appointed managing director.
Section 317 : Managing director not to be appointed for more than five years at a time.
Section 318 : Compensation for loss of office not permissible except to managing or whole-time directors or to directors who are managers.
Section 319 : Payment to director, etc., for loss of office, etc., in connection with transfer of undertaking or property.
Section 320 : Payment to director for loss of office, etc., in connection with transfer of shares.
Section 321 : Provisions supplementary to sections 318, 319 and 320.
Section 322 : Directors, etc., with unlimited liability in limited company.
Section 323 : Special resolution of limited company making liability of directors, etc., unlimited.
Section 324
to 348
: Prohibition of appointment of managing agent in certain cases
Section 349 : Determination of net profits.
Section 350 : Ascertainment of depreciation.
Section 351
to 354.
: Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000,
Section 355 : Saving.
Section 356
to 369.
: Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.
Section 370. : Loans, etc., to companies under the same management.
Section 370A : Provisions as to certain loans which could not have been made if sections 369 and 370 were in force.
Section 371 : Penalty for contravention of section 369, 370 or 370A.
Section 372 : Purchase by company of shares, etc., of other companies.
Section 372A : Inter-corporate loans and investments.
Section 373 : Investments made before commencement of Act.
Section 374. : Penalty for contravention of section 372 or 373.
Section 375 : Managing agent not to engage in business competing with business of managed company.
Section 376. : Conditions prohibiting reconstruction or amalgamation of company.
Section 377 : Restrictions on right of managing agent to appoint directors.
Section 378
to 383
: Sections 378 to 383. Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.
Section 383A. : Certain companies to have secretaries.
Section 384 : Firm or body corporate not to be appointed manager.
Section 385. : Certain persons not to be appointed managers.
Section 386 : Number of companies of which a person may be appointed manager.
Section 387. : Remuneration of manager.
Section 388 : Application of sections [269, 310], 311, 312 and 317 to managers.
Section 388A : Sections 386 to 388 not to apply to certain private companies.
Section 388B : Reference to [Tribunal] of cases against managerial personnel.
Section 388C : Interim order by [Tribunal].
Section 388D : Decision of the Tribunal.
Section 388E : Power of Central Government to remove managerial personnel on the basis of Tribunal's decision.
Section 389 : Power for companies to refer matters to arbitration.
Section 390 : Interpretation of sections 391 and 393.
Section 391 : Power to compromise or make arrangements with creditors and members.
Section 392 : Power of Tribunal to enforce compromise and arrangement.
Section 393 : Information as to compromises or arrangements with creditors and members.
Section 394 : Provisions for facilitating reconstruction and amalgamation of companies.
Section 394A : Notice to be given to Central Government for applications under sections 391 and 394.
Section 395 : Power and duty to acquire shares of shareholders dissenting from scheme or contract approved by majority.
Section 396 : Power of Central Government to provide for amalgamation of companies in national interest.
Section 396A : Preservation of books and papers of amalgamated company.
Section 397 : Application to Tribunal for relief in cases of oppression.
Section 398 : Application to Tribunal for relief in cases of mismanagement.
Section 399 : Right to apply under sections 397 and 398.
Section 400 : Notice to be given to Central Government of applications under sections 397 and 398.
Section 401 : Right of Central Government to apply under sections 397 and 398.
Section 402 : Powers of Tribunal on application under section 397 or 398.
Section 403 : Interim order by Tribunal.
Section 404 : Effect of alteration of memorandum or articles of company by order under section 397 or 398.
Section 405 : Addition of respondents to application under section 397 or 398.
Section 406 : Application of sections 539 to 544 to proceedings under sections 397 and 398.
Section 407 : Consequences of termination or modification of certain agreements.
Section 408 : Powers of Government to prevent oppression or mismanagement.
Section 409 : Power of Tribunal to prevent change in Board of directors likely to affect company prejudicially.
Section 410 : Appointment of Advisory Committee.
Section 411
to 415
: Omitted by the Companies (Amendment) Act, 1965, Act 31 of 1965, w.e.f. 15-10-1965.
Section 416 : Contracts by agents of company in which company is undisclosed principal.
Section 417 : Employees' securities to be deposited in post office savings bank or Scheduled Bank.
Section 418 : Provisions applicable to provident funds of employees.
Section 419 : Right of employee to see bank's receipt for moneys or securities referred to in section 417 or 418.
Section 420 : Penalty for contravention of sections 417, 418 and 419.
Section 421 : Filing of accounts of receivers.
Section 422 : Invoices, etc., to refer to receiver where there is one.
Section 423 : Penalty for non-compliance with sections 421 and 422.
Section 424 : Application of sections 421 to 423 to receivers and managers appointed by Tribunal and managers appointed in pursuance of an instrument.
 

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