Role of Directors in a Corporate
By Team Legistify / 2016-04-03
Depending on the company, the board of directors and officers can be made up of the same individuals. The board of directors and officers often work closely together, but play very different roles in the corporation.

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A board of directors is a body of elected or appointed members who jointly oversee the activities of a company. While their duties are outlined in the corporate by-laws, their main responsibility is to act on behalf of shareholders

Who is an independent director?

According to segment 149 (6) of The Companies Act, 2013, Independent Director implies any executive other than an overseeing chief or entire time chief or a candidate executive.

Certain conditions should be satisfied, before delegating any individual as a chief.

1.) proviso of Section 149(6), of the Act, expresses that any individual who is to be named must in the supposition of the Board, be a man of honesty and must have important skill and experience;

Depending on the company, the board of directors and officers can be made up of the same individuals. The board of directors and officers often work closely together, but play very different roles in the corporation.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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