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The appointment of a director in a company has always been the center of attraction for investors and stakeholders. These change leaders bear the onus of adding value to the company and keeping track of the market dynamics with respect to emerging scenarios. Under section 2(34) of the Companies Act, 2013, A "Director" is an individual appointed to the Board of a company by shareholders. A Director is expected to control, manage and direct a company's affairs in the stakeholders' best interest.
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The shareholders select two-thirds of the directors in both public and private companies. The remaining one-third of the members is appointed in accordance with the rules outlined in the Articles of Association. The Article of Association of a private company can authorize the method to appoint any of the directors. If the articles remain silent, the shareholders are required to appoint the directors. If a company has endorsed the principle of proportional representation, it can appoint two-thirds of its directors through the principal.
To address malfeasance and mismanagement, nominee directors must be nominated by either the government or third-party authority. The main responsibility of these directors is to conduct themselves honestly, with due care and expertise, and on behalf of the company.
Introducing new talents and skills
Expanding business ventures
Death / dismissal / retirement of existing directors
Due to requirement of statutory regulation
Self-Attested Identification Proof
Pan (For Indian Citizen)
Copy Of Passport (In Case of Foreign Applicant)
Residential Proof
Passport Size Photo
Director Identification Number (DIN)
Digital Signature Certificate (DSC)
Note: The documents of NRI or Foreign Nationals for Directors and Shareholders must be notarized and apostilled.
The individual should be a major
Qualifications should be in accordance with the Companies Act 2013
The member of the board must consent to the appointment of the proposed individual
Note: In case AOA of the company does not have provision related to change or adding of director then modification in AOA is done.
A Director is appointed by the shareholders of a company, typically at an annual general meeting or at a special meeting called for the purpose of appointing a Director. The appointment is formalized through the passing of a resolution by the shareholders.
The number of Directors required for a company varies depending on the type of company. A private limited company must have a minimum of 2 Directors, while a public limited company must have a minimum of 3 Directors. 3) Can a foreign national be appointed as a Director?
Yes, a foreign national can be appointed as a Director, subject to the regulations of the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India.
The responsibilities of a Director include providing oversight for the company's operations, making decisions on behalf of the company, and ensuring that the company complies with all applicable laws and regulations.
Yes, a Director can be removed from office by a resolution passed by the shareholders or by the Board of Directors.
The appointment of a Director typically lasts for a specific term, as determined by the company's articles of association or bylaws.
The process of appointing a Director involves calling a meeting of shareholders, putting forward a resolution for appointment of the Director, and getting the resolution passed.