Unit IV · Company Law

Appointment, duties and independent directors

Study aid only. Confirm statute numbers with the current bare Act and the official OU LL.B. (3-YDC) 2024–25 syllabus PDF.

Statute sections

Act / instrument	Section	Name
Companies Act, 2013	149	Company to have Board of Directors
Companies Act, 2013	166	Duties of directors
Companies Act, 2013	135	Corporate social responsibility

[1902] 2 Ch 421 · Chancery

Directors’ fiduciary duties are owed to the company, not individual shareholders (classic view).

(1973) 1 SCC 602 · Supreme Court of India

Directors can be examined and made to repay misapplied funds in winding up.