In a corporate form of business, ownership and management are different. A shareholder has the ownership, whereas a Director is a person who is responsible for the management of the company. The term director is a designation given to the senior management staff of businesses and large companies. A Director shall be responsible for conducting meetings of members, managing principal business transactions, determining and implementing the policies of the company and direction, management. He/she oversees or control the affairs of the company. Only an individual can become a Director of the company.
An individual appointed as a Director to the Board of a company is named as the “Director”. The provision regarding the appointment of the Director depends upon the type of the company. Generally, the Director is appointed by way of Ordinary Resolution passed in a meeting of members. Director Identification Number (DIN) is most important. Without obtaining a DIN no person can be appointed as a Director. A company can appoint an individual as a Director who is a Non-Resident Indian or foreign citizen but, at least one Director on a Board of a company should be Indian Resident.
A company may appoint more than 15 directors if it has passed Special Resolution in the meeting of its members.
Documents required for Appointment:
A) Indian Resident
B) Foreign citizen or NRI
ID Proof:
Address Proof:
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