Duties of Directors
The duties of the operators are divided into the following three parts
(I) in accordance with the Articles
Often the duties of the directors are mentioned in the articles of the company, so the directors should act within their jurisdiction as per the articles of the company. (II) Duties under the Companies Act
Under this Act, the following duties of directors are included: (1) To see the correctness of the statement and to sign it.
(2) Application and payment of allotment amount on the shares held by the directors themselves.
(3) In order for the company to obtain a certificate of commencement of business, it must declare that all statutory proceedings have been completed.
(4) Signing the annual credit.
(5) To take qualifying share within 2 months from the date of appointment.
(6) Giving written consent to become director. (7) There must be a meeting of the Board of Directors at least once in 3 months.
(8) The director should express his self-interest.
(9) To call the annual general meeting of the company.
(10) To call an extraordinary assembly according to the law. (11) By preparing in writing the books of account and other statutory books of the company
(12) Preparation of annual accounts. (13) To certify the balance sheet and profit and loss account of the company.
(14) To make arrangements for the recommendation, declaration and payment of dividend.
(15) To produce 3 copies of the final accounts before the Registrar.
(III) Duty on the basis of judges’ decision
On the basis of the decision of the judges, the following duties of the director (i) honesty, vigilance, skill and diligence.
(ii) If you have to do your work with common sense and experience, then keep it. Huh
(iii) To take interest in the business of the company by attending every meeting of the directors. (iv) To see to the operators that any employee who has been given important rights in relation to the business, is not using it wrongly.
Before signing the check, the operators should know the necessary things about it so that the company does not suffer any loss.