A director is an individual who is appointed or elected as the member of the Board of Directors of a Company, who along with the other directors, has the responsibility for determining and implementing the policies of the company. A director is a responsible person to perform the duties and functions of a company in accordance with the provisions of The Company Act, 2013.
The appointment of the directors is made as per the Articles of Association (AOA) or by virtue of section 152 of the Act. The subscribers to the memorandum shall be deemed directors the company. There are various categories of directors under Companies Act, 2013 which are as follows:
Woman directors: There must be one woman in the board of director where the company is listed entity and companies which have paid-up capital of Rs. 100 crore or more or has a turnover of Rs. 300 crore or more.
Independent Director under section 149(6)
Directors elected by Small shareholders under section 151
Resident director under section 149(3) is required in a company who has resided for 182 days in India in the previous year.
Additional director under section 161
Alternative director under section 161(2) can be appointed on the absence of the main director for at least three months and above.
Nominee Directors under section 161(3) can be appointed by a third party or by the Central Government in the case of mismanagement or oppression.
Every company shall have following number of minimum and maximum directors in the Board of Company-
(a) a minimum number of 3 directors in the case of a public company , 2 directors in the case of a private company , and 1 director in the case of a One Person Company ;
(b) a maximum of 15 directors