Business Law

Under Section 169 of the Companies Act, 2013, a director can be removed from office before their term expires by passing a resolution with special notice. This ensures compliance with procedural requirements and provides the director an opportunity to be heard.

DIN is a unique identification number for directors of Indian companies. It is valid for the director’s lifetime and is required for all Indian directors irrespective of their citizenship. However, DIN is not mandatory for directors of foreign companies with only branch offices in India.

Consumer protection councils are established at three levels to ensure proper implementation of consumer rights:
Center: The National Consumer Protection Council addresses policy-level issues.
State: State Consumer Protection Councils handle regional matters.
District: District councils deal with local grievances and awareness.
The fourth and fifth levels (divisional and international) are not part of the formal structure.

Step 1: Recall the definition of negotiable instruments.
- Negotiable instruments are transferable documents that guarantee payment of a specific amount to the bearer or the order of a specified person.
- Examples: Bill of exchange, Promissory notes, Cheques.
- Letter of credit is a banking instrument used in trade, but it is not transferable in the sense of negotiable instruments.