Meaning of Social Control of Company: Despite the defects commonly admitted in the management of companies, the suitability of company as the superior form of business organisation cannot be disputed. The processes of democratisation should however be initiated in the conduct of company's affairs in order to remedy the oligarchic malaise. Democratisation or social control of company is inevitable to [...]
After reading this article you will learn about the management of companies. Nowadays the Board is reduced to a mere legal formality, although it continues, in the eyes of law, as the only organ of the enterprise with all the overriding powers. With professionalization of management, the functions of the Board in actual administration are eroded perceptibly. Drucker observes: "In [...]
A director of a company may be removed in the following ways: 1. Removal by Shareholders 2. Removal by Central Government 3. Removal by Court. 1. Removal by Shareholders (Sec. 284): The shareholders may remove the director before the expiry of term of his office for negligence and fraud. But for that, a special notice must be given to the [...]