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Directors' Role and Responsibilities under the Light of New Amendment Act of Company Law

Directors' Role and Responsibilities under the Light of New Amendment Act of Company Law

Saroja V. B. N. H. Achanta, Radhika Raavi
Copyright: © 2017 |Pages: 18
ISBN13: 9781522520368|ISBN10: 1522520368|EISBN13: 9781522520375
DOI: 10.4018/978-1-5225-2036-8.ch009
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MLA

Achanta, Saroja V. B. N. H., and Radhika Raavi. "Directors' Role and Responsibilities under the Light of New Amendment Act of Company Law." Ethics and Sustainability in Global Supply Chain Management, edited by Ulas Akkucuk, IGI Global, 2017, pp. 160-177. https://doi.org/10.4018/978-1-5225-2036-8.ch009

APA

Achanta, S. V. & Raavi, R. (2017). Directors' Role and Responsibilities under the Light of New Amendment Act of Company Law. In U. Akkucuk (Ed.), Ethics and Sustainability in Global Supply Chain Management (pp. 160-177). IGI Global. https://doi.org/10.4018/978-1-5225-2036-8.ch009

Chicago

Achanta, Saroja V. B. N. H., and Radhika Raavi. "Directors' Role and Responsibilities under the Light of New Amendment Act of Company Law." In Ethics and Sustainability in Global Supply Chain Management, edited by Ulas Akkucuk, 160-177. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-2036-8.ch009

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Abstract

The chapter focuses on the key changes the roles and duties of Directors and Independent Directors under the light of New Amendment Act, 2013 of the Companies Act, 1956. This chapter analyzes the role of Directors / Independent Director by comparing the two major Companies Act 1956 and Companies Act 2013. Company Act 2013, is an initiation for better corporate governance, increasing levels of transparency and enhance the corporate and auditor's accountability. New Amendment Act of 2013 is a good legislative attempt by the Government. The following points are focused for the first time in this New Act, 2013. Duties of Directors are defined and Role of Independent Directors is defined. The Board has to take the precautions to implement proper systems and to ensure that all the compliance with the provisions of all the applicable laws which were adequate and operating effectively. As per the provisions of the New Act, 2013 the maximum number of Directors can be appointed are 15 with a special resolution, can be increased more than 15. Made provision for women Director.

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