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    Appointment of Nominee Director as per Section 161(3)

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    Dipika

    Posts : 4
    Join date : 2014-03-31

    Appointment of Nominee Director as per Section 161(3)

    Post by Dipika on Wed Apr 09, 2014 6:50 pm

    Section 161(3) speaks about the Appointment of Nominee Directors: Subject to the articles of a company, the Board may appoint any person as a director nominated by any institution in pursuance of the provisions of any law for the time being in force or of any agreement or by the Central Government or the State Government by virtue of its shareholding in a Government company.

    My query is what does the term ".................................................. by virtue of its shareholding in a Government Company" implies???????

    News Reporter 01
    Admin

    Posts : 37
    Join date : 2014-03-28

    Re: Appointment of Nominee Director as per Section 161(3)

    Post by News Reporter 01 on Thu Apr 10, 2014 4:52 pm

    it refers to the shareholding of CG / State Govt. in a Govt. Company

    Dipika

    Posts : 4
    Join date : 2014-03-31

    Re: Appointment of Nominee Director as per Section 161(3)

    Post by Dipika on Fri Apr 11, 2014 12:11 pm

    So if C. G. or S. G. is having shareholding in a Government Company, they can appoint a Nominee Director on their behalf on the Board of that particular Govt. Co.?????????????????????

    News Reporter 01
    Admin

    Posts : 37
    Join date : 2014-03-28

    Re: Appointment of Nominee Director as per Section 161(3)

    Post by News Reporter 01 on Fri Apr 11, 2014 12:17 pm

    Yes.

    Topic Solved, thus, locked !

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