Company Law Essentials: Mod 3 — Directors & Key Managerial Personnel

It has long been recognised that effective corporate management is quintessential for an effective deployment of shareholder capital. This ultimately contributes to the growth of a company and the economy. Good corporate management is critical to a strong corporate governance. The quality of a company’s governance and growth depends largely on the effectiveness of the boards’ oversight of the business and its stakeholders, and of course, the competence to look beyond.

Easier said than done, the position of a director comes with significant responsibilities with respect to executive management and overall direction of the company. The Board acts both as a trustee and agent of the company and is relied upon by shareholders and the capital market. Corporate governance also calls for setting up various board committees to focus on specialised activities. And the directors sit on one or more of such committees to carry out the duties and responsibilities pertaining to the committee.

But the directors don’t necessarily engage in the day-to-day operations and compliance of the company. Their job is primarily to supervise the company and make strategic decisions and not really micromanage. It is the key managerial personnel who are actually responsible for the day-to-day operations and compliance. So…while the Board sets the goals and objectives, it is the key managerial personnel who actually work towards achieving the goals.

The course is divided into two parts – Part 1 – Board of Directors and Part 2 – Key Managerial Personnel.

In Part 1, you will learn all about the composition of the board of directors, kinds of directors, their appointment, disqualification, powers, duties and liabilities of directors and the various Board committees.

And Part 2 covers topics pertaining to key managerial personnel, their appointment, remuneration, roles and responsibilities, removal of key managerial personnel and secretarial audit.

Supplements to the course include flashcards, mind maps, full text of important cases, relevant statutory content and examination pointers for students.