Business Studies

Write Short notes on the following:
Powers and Duties of the Directors.


SOLUTION
Power of a duities :
1. Power to make call on shares in respect of unpaid money.
2. The power to authorize lack of shares.
3. The power to issue debentures, whether in or outside India.
4. The power to invest in funds.
5. The power to borrow money otherwise than on debentures.
6. The power to make loans or give guarantee in respect of loans.But a banking company does not require any resolution by the board.

Duities of the directors :
  1.  Act within powers 
  2. Promote the success of the company 
  3. Exercise independent judgement 
  4. Exercise reasonable care,skills and diligence 
  5. Avoid conflicts of interest
  6. Not accept benefits from the third party
  7. Declare interest in proposed or existing transcations or arrangements with company.
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