Question

Section 2(54) of the Companies Act, 2013, defines 'managing director'. It stipulates that a "managing director" means a director who, by virtue of the_______of a company or an._______with the company or a______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.

• A. articles; agreement; contract
• B. memorandum; agreement; resolution
• C. agreement; memorandum; contract
• D. articles; agreement; resolution

Answer 1

Answer: (D)

articles; agreement; resolution

Under section 2(54), managing director is 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.