Whenever a Company wishes appoint a new person having rich experience in a respective field or include an investor into the Management of the Company or in order to fulfill any other requirement, then in such a case, the company is required to appoint a Director after obtaining approval of the Board of Directors of a Company
1. Director: A Director means a director appointed to the Board of a company and his term continues from the date of appointment till his resignation, cessation or vacation from the office of Director in the Company.
2. Additional Director: As per section 161 of the Companies Act, 2013, the articles of a company may confer on its Board of Directors the power to appoint any person, other than a person who fails to get appointed as a director in a general meeting, as an additional director at any time.
An additional director shall hold office up to the date of the next AGM or the last date on which the AGM should have been held, whichever is earlier.
3. Managing Director: A “Managing Director” means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called.
4.Whole Time Director: A “whole-time director” includes a director in the whole-time employment of the company
(ii) Proof of identity
(iii) Proof of residence
(iv) Board Resolution proposing his appointment as director in an existing company
(v) Specimen signature duly verified.
Note:As per the amendment, Form DIR-3 shall be signed by the applicant using his or her own Digital signature certificate and shall be verified digitally by a company secretary in full time employment of the company or by the managing director or director or CEO or CFO of the company in which the applicant is intended to be appointed as director in an existing company