Who do you get help from to discharge the responsibilities you have listed inC1
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Answer:
India: Duties To Be Discharged By Directors
14 December 2011
by Siddharth Raja
Narasappa, Doraswamy & Raja
Each Director has a fiduciary duty towards the company. All the powers entrusted to the Directors are only exercisable by them in this fiduciary capacity. The duties of Directors can be discussed under the following broad heads:
A. Fiduciary duties;
B. Common law duties;
C. Specific duties prescribed under the Companies Act;
D. Additional duties in case of a listed company; and
E. Other statutory duties.
A. Fiduciary Duties
A Director owes fiduciary duties towards the company, and not to individual shareholders, creditors (other than during winding up when their interest has to be taken care of) or fellow Directors. These generally consist of the following:
Good faith and bona fide Acts