1. DIRECTORS –APPOINTMENT,POWER AND LEGAL POSITION

2. DIRECTOR
A DIRECTOR IS A PERSON WHO IS RESPONSIBLE FOR DIRECTING OR CONTROLLING THE POLICY OR MANAGEMENT OF A COMPANY.

3. BOARD OF DIRECTORS
The ‘BOARD’ is the apex governing body of a company. A company board is its ‘brain’, all the companies actions are planned by its Board.

4. Qualification of Directors
A director must acquire the qualification shares.
A director must give written consent.
Only individuals can be directors.

5. Number of Directors
A public company shall have at least three directors.
Every other company shall have at least two directors.

6. Appointment of Directors
By the Signatories of Memorandum of association
By the Shareholders in the General Meeting
Appointment by Board of Directors
Appointment by Proportional Representation
Appointment by Third Parties
Appointment by Central Government

7. Legal Position of Directors
Directors as a Trustee
Directors as Agents of Company
Directors as a Managing Partner of the Company
Directors as an Officer of the Company
Directors as an Employee of the Company

8. Vacation of Office by Directors
On not Taking Qualification Shares
On being Adjudged of Unsound Mind
On being Adjudged as Insolvent
On being Imprisoned
On Removal from Office
On becoming Disqualified

9. Powers of Directors or Board of Directors
General Powers
Inspect the books of account of the company
Issue notices of the company’s meetings
Receive his remuneration
Attend the meetings of the company’s Board of Directors
Specific Powers
Issue debentures
Invest the funds of the company
Make loans on behalf of the company

10. Duties of Directors Inspecting the Prospectus Signing the Prospectus
Presenting the Annual Statement
Holding the Statutory Meeting and Forwarding the Statutory Report
Convening of General Meeting
Declaring and Paying Dividend
Presenting the Annual Accounts
Sending Copies to Registrar

11. Liabilities of Directors
Liability Towards Company
Liability of Ultra- Vires Acts
Liability for Negligence
Liability for Fraud
Liability Towards Outsiders
Liability for Ultra- Vires Acts
Liability as Agents
Liability in Relation to Allotment

12. Thanks…