Director is a person who is head of an organization either he is elected or appointed.Directors have some powers and duties relating to administration of the company.A board of Directors makes a group of people among the shareholders who elect representatives to run the business of the Company as well as who makes the policies of the company.
Powers and Functions of Directors:
Issuance of debenture.
Issuance of shares of shareholders.
To obtain loans from different sources.
Hiring of Directors of the Company on vacant position.
To perform extra function for the further benefit of the Company.
To make necessary arrangement for recovery of unpaid shares .
To give approval for the bonus for employee.
To maintain the Company’s accounts.
Formation of the contracts of the Company with shareholders and others.
To forfeit the shares of those shareholders who has not paid the money .
To pay government expenditures.
Investment of the funds of the Company.
To give the whole business on lease or any part of it.
To sell the whole business or any part of it.
Give approval for time extension to any shareholder who is liable to pay any debt which is outstanding on him.