A company, though a legal entity in the eyes of the law, is an artificial person, existing only in contemplation of law. It has no physical existence. It has neither soul nor a body of its own. As such, it cannot act in its own person. It can do so only through some human agency. The persons who are in charge of the management of the affairs of a company are termed as directors. They are collectively known as Board of Directors.
The Companies Act defines a ‘director’ as “any person occupying the position of a director by whatever name called” [Sec.2(13)].… Read the rest