Membership of Company - A Handbook

Membership of Company - A HandBook CA4ALL

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Duties Of Directors

Duties of Directors may be categorized as -

1. General Duties Of the Director

2. Statutory Duties or the Duties of Directors under the Companies Act

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Statutory Duties of Directors, i.e, Duties of Directors under the Companies Act

• To act according to Articles
• To ensure full and correct disclosure in Prospectus
• To sign the Prospectus
• To deliver prospectus to Registrar before issue
• To keep deposited application money in a Scheduled Bank
• To file the Return of Allotment
• To deliver the Share Certificates
• To pay the amount on shares taken
• To sign and file Annual Return
• To prepare and send copy of Statutory Report
• To call Annual General Meeting
• To lay accounts before AGM
  

General Duties Of Directors

• Duty of good faith
• Duty of not delegating the Powers
• Duty to act with due Care and Diligence
• Duty to ensure proper usage of Money
• Duty of not using Corporate Opportunities for Personal Interest
• Duty of not paying Dividend out of Capital