one Essay of any one director
Answers
From the very beginning of the company establishment, board of directors comes into existence and they are the people who manages the company affair mainly. It exists till the end of the company means till the company is ordered to wind up. At the time of winding up the duties of directors and power are ceased to exist. [1] In the normal scenario directors acts through meetings. Sometimes some individual director is given more power by the board but generally directors should work together and exercise the power collectively as a board. The meeting is for discussing about the business and take any decision about the company. The directors can only act through the resolution passed in those meeting. If any liability is imposed on the directors that should be passed by the board in a meeting.
The definition of “director” is given under section.2 of the Companies Act, 1956 which says that “any person occupying the position of a director by whatever name called”. So the determining factor of a director is the position, duties and function a person discharge, not the name. This view was excepted and confirmed in Re, Forest of Dean Coal Mining Co [3] which says that function is determining factor not name. The company is a judicial personality and board of Directors is human faces to it. The Board of Directors is the agent of the company who work on behalf of the company.
The directors or board of directors act as the trustee of the company property or assets. Directors are suppose to work collectively as board of director and even though it is an agent of company in certain matter the company can not interfere into the working of the directors work like distribution of shares. The article of the company can give name to the directors as board of management, governors but legally they are simple directors.