Types of Director

Go with following thread:-

/forum/difference-bet-non-executive-and-independent-director-92501.asp

Hi Panther,

I would like to answer ur second question that why co.s appoint directors of various types?

One interesting fact is that co. has nothing to do with various types of directors. Co. Act has prescribed these various types so as to control co.s effectively coz each & every type of director has different method of appointment and tenure.

Following are various types of directors (don’t confuse them with practical types like executive or non-executive, following are types as per Co. Act not as per MCA 21)

Sec. 252 – Small shareholder director

Sec. 254 – first directors

Sec. 255/256 – re-appointment of retiring director

Sec. 257 – appointment of director other than retiring director

Sec. 260 – additional director

Sec. 262 – appointment of director in casual vacancy

Sec. 313 – alternate director

Sec. 408 – director appointed by central govt.

Financial institution nominee director