In a Private Limited Company, the directors are responsible for the overall management and direction of the company. They are responsible for making strategic decisions, setting policies, and overseeing the day-to-day operations of the business.
The specific roles and responsibilities of directors in a Private Limited Company may vary depending on the size and nature of the business, as well as the specific provisions of the company’s articles of association. However, some common responsibilities of directors in a Private Limited Company include:
- Setting the company’s strategic direction and goals
- Making important business decisions
- Overseeing the financial management of the company
- Appointing and managing employees
- Ensuring that the company complies with relevant laws and regulations
Directors in a Private Limited Company are also responsible for ensuring that the company’s affairs are conducted in a manner that is in the best interests of the company and its shareholders. They are accountable to the shareholders for the performance of the company and must report to them on the company’s financial position and performance. It’s worth noting that directors in a Private Limited Company have a fiduciary responsibility to the company and its shareholders, and they can be held personally liable if they breach their duties