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Director of the company is the person who is responsible for day to day operations of the company. Directors have to make sure the company is run in accordance with the MoA and AoA of the company. They should also ensure that the company is compliant with all the rules of the Government. In case the company violates any...
Wazzeer Professional Network
ProfessionalWhat are the responsibilities of a Director in a private limited company?
-
Wazzeer Professional Network
ProfessionalDirector of the company is the person who is responsible for day to day operations of the company. Directors have to make sure the company is run in accordance with the MoA and AoA of the company. They should also ensure that the company is compliant with all the rules of the Government. In case the company violates any law of any Govt. (State/Central) Directors are personally held liable.
A Private Limited company should conduct an Annual General meeting every year and submit Annual Returns (Balance sheet and P&L Statement) along with Director’s report and Auditor’s report to RoC. In case of a failure to do so by the company for 3 consecutive years, the DIN of the concerned Directors may be suspended for a period of 5 years and/or a penalty of up to 5 Lacs may be levied on the Directors which should be paid by Directors in their personal liability.
Now "Get your Wazzeer" to have Wazzeer Qualified Lawyers, CAs, and CSs to take care of all the compliance works seamlessly.
almost 5 years ago
View answer
What are the responsibilities of a Director in a private limited company?
-
Wazzeer Professional Network
ProfessionalDirector of the company is the person who is responsible for day to day operations of the company. Directors have to make sure the company is run in accordance with the MoA and AoA of the company. They should also ensure that the company is compliant with all the rules of the Government. In case the company violates any law of any Govt. (State/Central) Directors are personally held liable.
A Private Limited company should conduct an Annual General meeting every year and submit Annual Returns (Balance sheet and P&L Statement) along with Director’s report and Auditor’s report to RoC. In case of a failure to do so by the company for 3 consecutive years, the DIN of the concerned Directors may be suspended for a period of 5 years and/or a penalty of up to 5 Lacs may be levied on the Directors which should be paid by Directors in their personal liability.
Now "Get your Wazzeer" to have Wazzeer Qualified Lawyers, CAs, and CSs to take care of all the compliance works seamlessly.
almost 5 years ago
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