BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An Individual can set up “One person Private Ltd Company"
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An independent Director can hold 3 consecutive terms of 3 years
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Listed Companies must have at least 1/3rd independent Directors
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Prescribed Companies must have at least 1 woman Director on the Board
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Detailed explanation-1: -Every company formed under the Companies Act, 2013 shall be either an unlimited company having no share capital OPC cannot be incorporated or converted into a company under Registered Office of the Company.
Detailed explanation-2: –Companies Act 2013 introduced a new concept which was not there in Companies act 1956 that was “One person company”.-No approval is now required for conversion of the Private company to one person company or vice versa.-No approval is required for conversion of private company into public company.
Detailed explanation-3: -TENURE OF INDEPENDENT DIRECTOR :-As per Section 149(10), independent director shall hold office for a term up to five consecutive years on the Board of a company but shall be eligible for reappointment on passing of a special resolution by the company and disclosure of such appointment in the Board’s report.
Detailed explanation-4: -Duties of the independent directors An independent director must aim to attend all the board meetings and the meetings conducted by the board committee is of which he is a member. The independent director must try to keep himself updated about the company the external environment under which it operates.