The term “directors” may be defined as individuals who, collectively as a team, known as the Board of Directors of the company, direct, control and manage the business and affairs of the company and exercise powers of the company. A director is a person appointed to perform the duties and functions of director of a company in accordance with the provisions of the Companies Act, 2013. Although the Board comprises individual directors, yet the actions and deeds of individual director cannot bind the company, unless a particular director has been specifically authorised by a Board resolution to discharge certain responsibilities on behalf of the company
A private company must appoint at least two directors to function, and a public company must have three. A one person company must employ at least one director. However, all these companies can employ only a maximum of fifteen directors. Only an individual can be appointed as a Director in a company. Typically, the founders or the promoters of the company become the first directors of the company. All other directors and additional directors are appointed by the Board of Directors subsequently. An Additional Director is appointed by the Board of Directors to fill a casual vacancy of a Director and/or considering the necessity of another Director on the Board taking into account the recent vital projects taken up by the company. The additional directors can hold office only until the next general meeting. However, it must be considered that one cannot be a Director in more than twenty companies (out of which maximum ten can be public) at the same time.
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