11 February 2010
if powers and duties of president and vice president are of internal polisies then what about the importance of DCA circular No.14/37/63-PR 23/09/1963.I do agree that all that is of internal policies.Suppose relative of director is appointed aas vice presisdent and approval of central government is sought , is there any question will arise from CG that we have not defined the powers and duties of vice president in articles of association of the company?
17 February 2010
If relatives of directors are appointed then it would be hit under Section 314 of the Companies Act and for the kind of remuneration they receive, approval of central government is required.
As regards powers and duties, it is the internal policies ofthe company that would operate.
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