| SECTIONS |
SECTION
252- 377 : COMPANIES ACT, 1956 |
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CHAPTER II : DIRECTORS |
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Constitution of Board of directors |
| 252. |
Minimum number of directors |
| 253. |
Only individuals to be directors |
| 254. |
Subscribers of memorandum deemed to be directors |
| 255. |
Appointment of directors and proportion of those who are to
retire by rotation |
| 256. |
Ascertainment of directors retiring by rotation and filling
of vacancies |
| 257. |
Right of persons other than retiring directors to stand
for directorship |
| 258. |
Right of company to increase or reduce the number of directors |
| 259. |
Increase in number of directors to require Government sanction |
| 260. |
Additional directors |
| 261. |
[Repealed] |
| 262. |
Filling of casual vacancies among directors |
| 263. |
Appointment of directors to be voted on individually |
| 263-A. |
Sections 177, 255, 256 and 263 not to apply in relation to
companies not carrying business for profit, etc. |
| 264. |
Consent of candidate for directorship to be filed with the company
and consent to act as director to be filed with the Registrar |
| 265. |
Option to company to adopt proportional representation for the
appointment of directors |
| 266. |
Restrictions on appointment or advertisement of director |
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Director Identification Number |
| 266-A. |
Application for allotment of Director Identification Number |
| 266-B. |
Allotment of Director Identification Number |
| 266-C. |
Prohibition to obtain more than one Director Identification Number |
| 266-D. |
Obligation of director to intimate Director Identification Number to concerned company or companies |
| 266-E. |
Obligation of company to inform Director Identification Number to Registrar.- or section 266C or section 266D or section 266E |
| 266-F. |
Obligation to indicate Director Identification Number |
| 266-G. |
Penalty for contravention of provisions of section 266A or section 266C or section 266D or section 266E.- |
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Managing directors, etc. |
| 267. |
Certain persons not to be appointed managing directors |
| 268. |
Amendment of provision relating to managing, whole-time
or non-rotational directors to require Government approval |
| 269. |
Appointment of managing or whole-time director or manager
to require Government approval only in certain cases |
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Share qualifications |
| 270. |
Time within which share qualification is to be obtained and
maximum amount thereof |
| 271. |
[Repealed] |
| 272. |
Penalty |
| 273. |
Saving |
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Disqualifications of directors |
| 274. |
Disqualifications of directors |
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Restrictions on number of directorships |
| 275. |
No person to be a director of more than fifteen companies |
| 276. |
Choice to be made by director of more than fifteen
companies at commencement of Act |
| 277. |
Choice by person becoming director of more than fifteen
companies after commencement of Act |
| 278. |
Exclusion of certain directorships for the purposes of
sections 275, 276 and 277 |
| 279. |
Penalty |
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Retiring age of directors |
| 280. |
[Repealed] |
| 281. |
[Repealed] |
| 282. |
[Repealed] |
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Vacation of office by directors |
| 283. |
Vacation of office by directors |
| 284. |
Removal of directors |
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Meetings of board |
| 285. |
Board to meet at least once in every three calendar months |
| 286. |
Notice of meetings |
| 287. |
Quorum for meetings |
| 288. |
Procedure where meeting adjourned for want of quorum |
| 289. |
Passing of resolutions by circulation |
| 290. |
Validity of acts of directors |
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Board’s powers and restrictions
thereon |
| 291. |
General powers of Board |
| 292. |
Certain powers to be exercised by Board only at meeting |
| 292-A. |
Audit Committee |
| 293. |
Restrictions on powers of Board |
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Political contributions |
| 293-A. |
Prohibitions and restrictions regarding political contributions |
| 293-B. |
Power of Board and other persons to make contributions
to the National Defence Fund, etc. |
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Appointment of sole selling agents |
| 294. |
Appointment of sole selling agents to require approval of
company in general meeting |
| 294-A. |
Prohibition of payment of compensation to sole selling agents
for loss of office in certain cases |
| 294-AA. |
Power of Central Government to prohibit the appointment of
sole selling agents in certain cases |
| 295. |
Loans to directors, etc. |
| 296. |
Application of section 295 to book debts in certain cases |
| 297. |
Board's sanction to be required for certain contracts in which
particular directors are interested |
| 298. |
[Repealed] |
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Procedure, etc., where director interested |
| 299. |
Disclosure of interests by director |
| 300. |
Interested director not to participate or vote in Board's proceedings |
| 301. |
Register of contracts, companies and firms in which directors are
interested |
| 302. |
Disclosure to members of director's interest in contract appointing
manager, managing director |
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Register of directors, etc. |
| 303. |
Register of directors, etc. |
| 304. |
Inspection of the register |
| 305. |
Duty of directors, etc., to make disclosure |
| 306. |
Register to be kept by Registrar and inspection thereof |
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Register of directors’ shareholdings |
| 307. |
Register of directors' shareholdings, etc. |
| 308. |
Duty of directors and persons deemed to be directors to make
disclosure of shareholdings |
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Remuneration of directors |
| 309. |
Remuneration of directors |
| 310. |
Provision for increase in remuneration to require Government sanction |
| 311. |
Increase in remuneration of managing director on re-appointment
or appointment after Act to require Government sanction |
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Miscellaneous provisions |
| 312. |
Prohibition of assignment of office by directors |
| 313. |
Appointment and term of office of alternate directors |
| 314. |
Director, etc. not to hold office or place of profit |
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Restrictions on appointment of managing
directors |
| 315. |
[Repealed] |
| 316. |
Number of companies of which one person may be appointed
managing director |
| 317. |
Managing director not to be appointed for more than five years
at a time |
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Compensation for loss of office |
| 318. |
Compensation for loss of office not permissible except to
managing or whole-time directors or to directors who are managers |
| 319. |
Payment to director, etc., for loss of office, etc., in connection with
transfer of undertaking of property |
| 320. |
Payment to director for loss of office, etc., in connection with
transfer of shares |
| 321. |
Provisions supplementary to sections 318, 319 and 320 |
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Directors with unlimited liability |
| 322. |
Directors, etc., with unlimited liability in limited company |
| 323. |
Special resolution of limited company making liability
of directors, etc., unlimited |
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CHAPTER III : MANAGING AGENTS |
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Prohibition of appointment of managing
agent in certain cases |
| 324. |
Power of Central Government to notify that companies engaged
in specified classes of industry or business shall not have managing agents |
| 324-A. |
[Repealed] |
| 325. |
[Repealed] |
| 325-A. |
[Repealed] |
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Appointment and term of office |
| 326. |
[Repealed] |
| 327. |
[Repealed] |
| 328. |
[Repealed] |
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Variation of managing agency agreement |
| 329. |
[Repealed] |
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Special pro visions regarding existing
managing agents |
| 330. |
[Repealed] |
| 331. |
[Repealed] |
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Restrictions on number of managing agencies |
| 332. |
[Repealed] |
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Right to charge on assets |
| 333. |
[Repealed] |
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Vacation of office, removal and resignation |
| 334. |
[Repealed] |
| 335. |
[Repealed] |
| 336. |
[Repealed] |
| 337. |
[Repealed] |
| 338. |
[Repealed] |
| 339. |
[Repealed] |
| 340. |
[Repealed] |
| 341. |
[Repealed] |
| 342. |
[Repealed] |
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Transfer of; and succession to, office |
| 343. |
[Repealed] |
| 344. |
[Repealed] |
| 345. |
[Repealed] |
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Changes in constitution of firms and
corporations |
| 346. |
[Repealed] |
| 347. |
[Repealed] |
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Remuneration of managing agents |
| 348. |
[Repealed |
| 349. |
Determination of depreciation |
| 350. |
Ascertainment of depreciation |
| 351. |
[Repealed] |
| 352. |
[Repealed] |
| 353. |
[Repealed] |
| 354. |
[Repealed] |
| 355. |
[Repealed] |
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Appointments as selling and buying agents |
| 356. |
[Repealed] |
| 357. |
[Repealed] |
| 358. |
[Repealed] |
| 359. |
[Repealed] |
| 360. |
[Repealed] |
| 361. |
[Repealed] |
| 362. |
[Repealed] |
| 363. |
[Repealed] |
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Assignment of; or charge on, remuneration |
| 364. |
[Repealed] |
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Compensation for termination of office |
| 365. |
[Repealed] |
| 366. |
[Repealed] |
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Other rights and liabilities not affected
on termination of office |
| 367. |
[Repealed] |
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Restrictions no powers |
| 368. |
[Repealed] |
| 369. |
[Repealed] |
| 370. |
Loans, etc., to companies under the same management |
| 370-A. |
Provisions as to certain loans which could not have been made
if sections 369 and 370 were in force |
| 371. |
Penalty for contravention of sections 369, 370 or 370A |
| 372. |
Purchase by company of shares, etc., of other companies |
| 372-A. |
Inter-corporate loans and investments |
| 373. |
Investments made before commencement of Act |
| 374. |
Penalty for contravention of section 372 or 373 |
| 375. |
[Repealed] |
| 376. |
Condition prohibiting reconstruction or amalgamation of company |
| 377. |
[Repealed] |
