There are multiple classes of Director with different roles and expectations. Most of the time, we speak only being a Director in the Company (which is the most common form) but are not aware of the other types. This is specially true when induct any new person during normal course of business.
In this episode of eLagaan Whiteboard Friday, the eLagaan team talks about various types of Director that is available as per Company Law, the roles and expectations with each of the positions and how appointments should be made for specific roles. Not following right process or defining the roles in a proper fashion may lead to heavy penalties and non compliance.