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Acknowledgement

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    PREFACE Countries like India needs to formulate a better governance framework to counter the current globalized & growing market’s challenges, difficulties and increasing responsibilities/ duties for the investor, stakeholder & society and last but not the least the economic development with rapidly changed environment. Here with an effective Governance of the companies shows the board of management, director’s area of thrust and responsibility towards the organisation.  The success of a company depends upon a person who is managing and directing the company so it is necessary that the person who has been appointed as a director must be an competent person and the knowledge of proper management Stipulation and clarification of the obligations and duties as a chief of an organization and incredible commitment of the new organization law of India. Company Act, 2013 is a initiation of better governance and positive atmosphere in Indian business environment which introduced various rules, regulation and provisions like improve governance norms, enhance self   –regulation, enhance the corporate and auditor’s accountability, increasing the levels of transparency and protect interests of small investors. The previous organization law of India, the Companies Act of 1956, was disgustingly insufficient in this regard. But in line with international standard the Company Act, 2013 is a good legislative attempt by the government. This paper is focused on the key changes and analysis of the role of Director/ Independent Director by comparing the two major companies act i.e. Companies Act 1956 & the recently introduced Companies Act 2013.  CONTENTS CHAPTER-1 INTRODUCTION ………………………………………………………………………………………………………………………………..   DEVELOPMENT OF COMPANY’S ACT, 2013 ………………………………………………………………………………………..  WHO CAN BE A DIRECTOR …………………………………………………………………………………………………………………  LEGAL POSITION OF DIRECTORS:- ……………………………………………………………………………………………………….  TYPES OF DIRECTOR …………………………………………………………………………………………………………………………..   CHAPTER -2 MODE OF APPOINTMENT OF DIRECTORS ............................................................................................ DISQUALIFICATION OF DIRECTOR  –  SECTION 164 ……………………………………………………………………………..  DUTIES OF DIRECTORS (THE COMPANIES ACT OF 1956 & 2013) ………………………………………………………..   RIGHTS AND DUTIES OF DIRECTORS (THE COMPANIES ACT OF 2013) ………………………………………………  LIABILITIES OF DIRECTORS …………………………………………………………………………………………………………………   RELIE FROM LIABILITIES ………………………………………………………………….  (CHAPTER-3) INDEPENDENT DIRECTOR INTRODUCTION BACKGROUND EVOLUATE THE THOUGHT OF INDEPENDENT DIRECTOR IN INDIA:- DEFINITION  TENURE GUIDELINES OF SKILLED CONDUCT MANNER OF APPOINTMENT QUALIFICATION OF INDEPENDENT DIRECTOR REMUNERATIONS ROLE, FUNCTIONS AND DUTIES RESIGNATION OR REMOVAL LIABILITIES OF INDEPENDENT DIRECTOR :- WOMAN DIRECTOR APPOINTMENT Time Limit   Intermittent Vacancy   DUTIES AND LIABILITIES :- QUALIFICATION / TRADE EXPERTIES    CORPORATE GOVERNANCE INTRODUCTION DEFINITION OF COMPANY GOVERNANCE STAKEHOLDERS IN GUARANTEEING CORORATE GOVERNANCE TABLE OF CASES COMPLIANCE NECESSITIES OVER FIELDS IMPORTANCE OF COMPANY GOVERNANCE BENEFITS OF COMPANY GOVERNANCE :- CORPORATE GOVERNANCE AND ECONOMIC PERFORMANCE OECD PRINCIPLES ROLE OF BOARD VITAL COMMITTEES REPORT CORPORATE GOVERNANCE IN ASIAN COUNTRY Factors influencing company governance Role of director in company governance CHAPTER-4 AN APPRISAL OR CRITICAL ANALYSIS OF COMPANY ACT, 2013 INTRODUCTION:- COMPARATIVE ANALYSIS MERGERS, ACQUISITIONS PROBLEMS
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