Board of Directors
Definitions In English
A board of directors is a team of people elected by a corporation’s shareholders to represent the shareholder’s interests and are responsible for overseeing firm activities to the benefit of its shareholders. A board’s activities are determined by its powers, duties, and responsibilities.
Definitions In Hindi
Shareholders कंपनी के मालिक हैं लेकिन वे इसे चलाते नहीं हैं। वह काम Directors को दिया जाता है।
सभी सीमित कंपनियों में कम से कम एक Directors होना चाहिए।
Health और Safety, Employment, Law और Tax जैसे क्षेत्रों में अपनी Company की सफलता सुनिश्चित करने के लिए Director की कई business responsibilities होती हैं।
Types of Directors
एक कंपनी में विभिन्न प्रकार के directors मौजूद हो सकते हैं –
- Ordinary Directors:
Ordinary directors are also referred to as simple directors who attends Board meeting of a company and participate.
- Managing Director:
Managing Director is a director who, by virtue of an agreement with the company or of a resolution passed by the company in a general meeting or by its Board of Directors.
- Executive Directors:
An executive director is a director who performs a specific role in a company under a service contract which requires a regular, possibly daily, involvement in management.
- Non-executive Directors:
A non-executive director does not have a function to perform in a company’s management but is involved in its governance. They are subject to the same legal duties as executive directors.
- Shadow Directors:
According to company law, a director is a person who is responsible for the overall direction of the company’s affairs. Shadow directors are directors for legal purposes.
- Additional Directors:
Additional Directors are appointed by the Board between the two annual general meetings.
- Alternate Director:
“The original director” during his absence for a period Generally, alternate directors are appointed for a person.
- Professional Directors:
Any directors possessing professional qualifications and do not have any pecuniary (धन-संबंधी) interest in the company are called as “Professional Directors”.
- Nominee Directors:
The banks and financial institutions which grant financial assistance to a company.
- Independent Directors:
As per the definition of independent director in the code of Corporate Governance, an independent director should not have any pecuniary relations or transactions with the company or its promoters; his decisions should be independent of those who have a controlling stake in a company and be in the overall interest of the company and its stakeholders.
Power and Liabilities of Directors
A board of directors is a group of people elected by the owners. who have decision-making authority, voting authority, and specific responsibilities which in each case is separate. Directors are the members of the board of directors. The members of the board can be an insider or an outsider.
Duties of Directors
- नेक नीयत से काम करना ( To act in good faith)
- कंपनी के एसोसिएशन ऑफ आर्टिकल्स के अनुसार कार्य करें ( Act in accordance with the Articles of Association of the Company)
- कंपनी के उद्देश्यों को बढ़ावा देने के लिए कार्य करना ( To act so as to promote the objects of the Company )
- कंपनी और उसके हितधारकों के सर्वोत्तम हित में कार्य करें ( Act in best interest of the Company and its stakeholders )
- उचित और उचित देखभाल के साथ कर्तव्यों का पालन करें ( Exercise duties with due and reasonable care)
- स्वतंत्र निर्णय लेने के लिए ( To exercise independent judgement )
- ऐसी स्थिति में शामिल नहीं होना चाहिए जहां उसका हित कंपनी के हित से टकराता हो ( Not to get involved in a situation where his interest conflicts with the interest of the Company)
- वह अपना कार्यालय किसी अन्य व्यक्ति को नहीं सौंप सकता है। ( He cannot assign his office to any other person.)
- अनुचित लाभ या लाभ प्राप्त करने के लिए नहीं (Not to achieve under gain or advantage)
Role of Board of Directors
Board of Directors की प्रमुख भूमिका – shareholders के representatives के रूप में, संगठन के कार्य की देखरेख करना और यह सुनिश्चित करना है कि यह सभी के सर्वोत्तम हित में काम करता रहे|
आज के संगठनों की जटिलता को देखते हुए, यह कोई आसान या सीधा काम नहीं है। आज, बोर्ड की प्रभावशीलता भारतीय कंपनियों का एक प्रमुख प्रदर्शन चालक है।
Board’s Committee
Conformity with nature, all living creatures, including human beings are self-serving. It is, thus, hardly surprising that financially powerful business magnates own and control the companies, both in India and abroad.
- Promoter shareholders, by virtue of promoting the company and owning shares to the extent of 40 per cent to 80-90 per cent.
- After his death, his crown is inherited by the sons, the eldest one particularly. For example, after the sad demise of Sri Dhirubhai Ambani, both his sons have become Chairman and Vice-Chairman respectively.
- The companies pack their boards with their blood relations, other relations and friends, so as to run it as their personal estate.
Sub- Board Committee
- निर्देशक समिति (Audit Committee): इस समिति का कार्य निगमित के लेखा-अवलोकन, आंकड़ों की प्रावधानिकता और वित्तीय नियंत्रण की जांच करना होता है।
- निर्माण समिति (Nomination Committee): यह समिति नये निदेशकों की नियुक्ति और मौजूदा निदेशकों के पुनः नामांकन के लिए जिम्मेदार होती है।
- भुगतान समिति (Remuneration Committee): इस समिति का कार्य निगमित के निदेशकों, अधिकारियों और कर्मचारियों के लिए भुगतान नीतियों, वेतन और भत्तों का निर्धारण करना होता है।
- संचालन समिति (Governance Committee): यह समिति निगमित की संचालनात्मक प्रक्रियाओं, साझेदारी, नैतिकता नीतियों और संगठनात्मक दिशा-निर्देशों के लिए जिम्मेदार होती है।
- मुआवजा समिति ( Compensation Committee): मुआवजा समिति मुआवजे के बाजार स्तर के बारे में सूचित रहती है और मूल्यांकन के आधार पर बोर्ड को मुआवजे के स्तर और प्रणालियों की सिफारिश करती है। The Compensation Committee stays informed as to market levels of compensation and, based on evaluations, recommends compensation levels and systems to the Board.
Summary
- अपनी कंपनी की सफलता सुनिश्चित करने के लिए निदेशकों की कई व्यावसायिक जिम्मेदारियां होती हैं। एक निदेशक मंडल निर्वाचित या नियुक्त सदस्यों का एक निकाय है जो संयुक्त रूप से देखरेख करते हैं किसी कंपनी या संगठन की गतिविधियाँ। एक बोर्ड की गतिविधियाँ शक्तियों द्वारा निर्धारित की जाती हैं, कर्तव्यों, और जिम्मेदारियों को प्रत्यायोजित या स्वयं के बाहर एक प्राधिकरण द्वारा इसे प्रदान किया गया।
- Outsiders are not related to the company, they may be referred to as non-executive directors or independent directors.