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

Click on the above Links to see the Categorized duties in details

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