“Sleeping Director” Plea To Exempt from Prosecution Rejected by NCLT – On Appeal NCLAT Confirms – Impact Thereof

A “company” is a creature of law – it is an artificial juridical person created by law and its rights, obligations, powers and duties are as prescribed by law and within the powers conferred under its registered Memorandum of Association; it can do all those acts as a natural person can do. Being an artificial juridical person, it functions and carries its business through the persons manning its “Board of Directors” or “Board” in short.A “company” is a creature of law – it is an artificial juridical person created by law and its rights, obligations, powers and duties are as prescribed by law and within the powers conferred under its registered Memorandum of Association; it can do all those acts as a natural person can do. Being an artificial juridical person, it functions and carries its business through the persons manning its “Board of Directors” or “Board” in short.taxmann.com Latest ArticlesRead More

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