Business Studies

State the following statement is True or False:
A Director who is entrusted with the substantial powers of management is the Managing Director.


ANSWER

True


SOLUTION
Managing director is defined by the Companies Act 2013 as:
'a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called'.
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TRUE/FALSE Medium Published on 18th 08, 2020
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