Get Section 167 Companies Act 2006 Ap03 Form

(2) A director of a company shall act in good faith in order to promote the objects of the company for the benefit of its members as a whole, and in the best interests of the company, its employees, the shareholders, the community and for the protection of environment.

In English company law, a special resolution refers to a formal decision made by the shareholders of a company on certain important matters. It's governed by the Companies Act 2006 and is used for significant decisions that require the approval of a larger majority of shareholders than a regular resolution.

Conduct general meeting The company must appoint a director by passing a resolution in a general meeting. The company may pass a resolution to appoint a director in an Annual General Meeting (AGM).

At least two-thirds of the total directors (i.e., rotational directors) are liable for retirement. They may be eligible to be directors in general meetings. The remaining directors are appointed as per the Articles of Association in general meetings [Section 152(6)(b)].

303Members' power to require directors to call general meeting. (1)The members of a company may require the directors to call a general meeting of the company.

The procedure for removal of director are discussed under Section 169 of the Companies Act, 2013. As per these provisions, a director can be removed from the company before the expiry of his tenure by passing an ordinary resolution in the general meeting of the company.

(2) If a person, functions as a director even when he knows that the office of director held by him has become vacant on account of any of the disqualifications specified in subsection (1), he shall be punishable with imprisonment for a term which may extend to one yea r or with fine which shall not be less than one ...