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Duties and Liabilities of Directors

Duties and Liabilities of Directors

by K S Ravichandran
About Book:

With the increasing role played by the corporate sector and investors in shaping the way businesses are managed, directors of companies and other listed entities play a significant role, individually and collectively. Their duties and liabilities are in sharp focus due to the ever growing impact of their actions on the lives of employees and investors and therefore, directors including independent directors, need to be vigilant in their duty and care while remaining alert to those actions of theirs, both as individual directors as well as the collective board, that can bring liability that could be personal as well. This book is about such duties and liabilities.

All directors might not be aware of the duties and liabilities that come with the position. As this position is accepted by choice, a director cannot claim leniency in the court of law claiming that he was ignorant. This book lists out the duties and liabilities under primarily the Companies Act and SEBI's Listing Obligations and Disclosure Requirements; while discussing various types of directors, their qualifications, disqualifications, tenure, procedures for appointment, reappointment, retirement, resignation, removal and other modes of cessation of directorships. The duties, including those of a fiduciary nature, are covered extensively, of directors and independent directors. Situations where directors are likely to be regarded as officers who are in default as per companies Act, 2013 are also pointed out with instances. Collective responsibilities of the board of directors is inescapable by the individual director and therefore the liability too. This book contains a discussion on this aspect. The last chapter of the book deals with lessons and and learnings, through ten leading cases from around the world as illustration.
Table of contents
Chapter 1 Types of directors, appointment and cessation of directors
Chapter 2 Duties of Directors
Chapter 3 Independent directors and their special duties
Chapter 4 Liabilities of directors
Chapter 5 Collective responsibility of the board
Chapter 6 Most frequently asked questions on directors
Chapter 7 Lessons and Learnings for Directors
Appendix 1 Extracts of select provisions of the Companies Act, 2013
Appendix 2 Extracts of Recommendations of the Company law Committee as per its report of March 2022
Appendix 3 Extract of Select Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Categories: Company Law
Publisher: Bloomsbury Professional India
About Publisher:

Bloomsbury Professional India brings out quality content on tax, accounting and law for professionals in India. Bloomsbury Professional is part of Bloomsbury, a UK based company with offices in London, Oxford, New York, Sydney and New Delhi. The New Delhi based office of the publisher, have over the past few years of operations in India, brought out several market leading books and aims to be the first choice of professionals.

Author: K S Ravichandran

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About Book:

With the increasing role played by the corporate sector and investors in shaping the way businesses are managed, directors of companies and other listed entities play a significant role, individually and collectively. Their duties and liabilities are in sharp focus due to the ever growing impact of their actions on the lives of employees and investors and therefore, directors including independent directors, need to be vigilant in their duty and care while remaining alert to those actions of theirs, both as individual directors as well as the collective board, that can bring liability that could be personal as well. This book is about such duties and liabilities.

All directors might not be aware of the duties and liabilities that come with the position. As this position is accepted by choice, a director cannot claim leniency in the court of law claiming that he was ignorant. This book lists out the duties and liabilities under primarily the Companies Act and SEBI's Listing Obligations and Disclosure Requirements; while discussing various types of directors, their qualifications, disqualifications, tenure, procedures for appointment, reappointment, retirement, resignation, removal and other modes of cessation of directorships. The duties, including those of a fiduciary nature, are covered extensively, of directors and independent directors. Situations where directors are likely to be regarded as officers who are in default as per companies Act, 2013 are also pointed out with instances. Collective responsibilities of the board of directors is inescapable by the individual director and therefore the liability too. This book contains a discussion on this aspect. The last chapter of the book deals with lessons and and learnings, through ten leading cases from around the world as illustration.
Table of contents
Chapter 1 Types of directors, appointment and cessation of directors
Chapter 2 Duties of Directors
Chapter 3 Independent directors and their special duties
Chapter 4 Liabilities of directors
Chapter 5 Collective responsibility of the board
Chapter 6 Most frequently asked questions on directors
Chapter 7 Lessons and Learnings for Directors
Appendix 1 Extracts of select provisions of the Companies Act, 2013
Appendix 2 Extracts of Recommendations of the Company law Committee as per its report of March 2022
Appendix 3 Extract of Select Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Categories: Company Law
Publisher: Bloomsbury Professional India
About Publisher:

Bloomsbury Professional India brings out quality content on tax, accounting and law for professionals in India. Bloomsbury Professional is part of Bloomsbury, a UK based company with offices in London, Oxford, New York, Sydney and New Delhi. The New Delhi based office of the publisher, have over the past few years of operations in India, brought out several market leading books and aims to be the first choice of professionals.

Author: K S Ravichandran

Similar Books

Ratings and Reviews

Overall Rating
Review
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