"First directors" means those directors who hold office form the date of incorporation of the company. The first directors are usually named in the articles of association or are appointed by the directors.

The person one who takes an active interest in the well being of a company and one of the Members of Board of Directors is called as Director of a company. A Director is a person from a Board of Director who leads or supervises the functioning of a company.

An Executive director is a Chief Executive officer (CEO) or Managing director of an organization, company, or corporation, who is responsible for making decisions to complete the mission and for the success of the organization.

Following companies are required to appoint KMP.
(i) Every listed company.
(ii) Every public company (Having paid up share capital of ₹ 10 crore or more).

'A Person who is appointed or elected member of the Board of Directors of a company and has the responsibility of determining and implementing policies along with others in the board. It is not necessary to, hold any shares in the company or be an employee. Directors act on the basis of resolutions made in the Board of Directors meeting according to their powers stated in the Articles of Association of the company''.

(i) In case of one person company, the requirement of directors is one.
(ii) In the case of other Private companies the minimum requirement of directors is two

Causal vacancy is a situation in which a seat in a delibrative assembly becomes vacant during that assembly's term, casual vacancies may arise through the death, resignation or disqualification of the sitting member or for other reason.

 (i) Alternate directors are appointed by the Board of Directors, as a substitute to a director who may be absent from India, for a period which is not less than three months.
(ii) The appointment must be authorised either by the Articles of Association of the company or by a passing a resolution in the General Meeting.
(iii) The alternative director is not a representative or agent of Original Director.

Rights can be categorized into individual rights and collective rights.
Individual rights are such as
(i) Right to inspect books of accounts
(ii) Right to receive notices of board meetings
(iii) Right to participate in proceedings and cast vote in favour or against resolutions
(iv) Right to receive circular resolutions proposed to be passed
(v) Right to inspect minutes of board meetings
Collective rights are as follows
(i) Right to refuse to transfer shares: Directors of private companies and deemed public companies are entitled to refuse registration of transfer of shares to a person whom they do not approve.
(ii) Right to elect a Chairman: The directors are entitled to elect a chairman for the board meetings.
(iii) Right to appoint a Managing director: The Board has the right to appoint the managing director/ manager of the company.
(iv) Right to recommend dividend: The Board is entitled to decide whether a dividend is to be paid or not. Shareholders cannot compel the directors to pay a dividend. However, they can reduce the rate of recommended dividend. Payment of dividend is the prerogative of the board.

Directors are the persons duly appointed by the Company to lead and manage its affairs and their legal position.
(i) Directors as Agents: A company as an artificial person, acts through directors who are elected representatives of the shareholders and who execute decision made for the benefit of shareholders. Hence directors share a relationship of an agent and a principal with the company.
(ii) Directors as Managing partners: The management of a company is vested in the hands of many executives. So, the directors are virtuals managing partners and the Directors elected by shareholders are like partners to the shareholders.
(iii) Directors as trustees: Directors are trustees of the company's money and property and they have to safeguard them and use them for the sake of the company and on behalf of the company.
(iv) Directors as employees: Directors are professionals who manage the company for the benefit of themselves and for the benefit of the shareholders. However, if a director accepts employment in the same company under a separate contract of service, then, in addition to the directorship, he is also treated as an employee or servant of the company.
(v) Directors as officers: "Officer" includes any director, manager or key managerial personnel or any person in accordance with the directions or instructions the Board of Directors or any one or more of the directors who are or are accustomed to act. Therefore Director is treated as officers of a company.

Directors will be liable with a fine and imprisonment or both for fraud of noncompliance of any statutory provisions in the following situations where
(i) There is mis-statement in prospectus
(ii) There is failure to file return on allotment with the registrar
(iii) There is failure to give notice to the registrar for conversion of share into stock
(iv) There is failue to issue share Certificate and Debenture certificate
(v) There is failure to maintain register of the members and register of debenture holders
(iv) There is default in holding Annual General Meeting
(vii) There is failure to provide Financial Statements.

l. Collective duties of directors:
Directors as a part of Board perform certain duties collectively.
(i) Approval of annual accounts and authentication of annual accounts
(ii) Appointment of First Auditors
(iii) Issuance of Notice and Holding of Board meetings and shareholders meetings
(iv) Passing of resolutions at board meetings or by circulation.
2. General duties of Directors:
(i) Structuring or new policy to reach the objectives of a company.
(ii) Acting in accordance with the Articles of the company
(iii) Act in Good faith in order to promote the objects of the company
(iv) Perform duties with due and reasonable care and diligence.
3. Specific Duties of Directors
(i) Duty to disclose his name, address and occupation
(ii) Duty to disclose his shareholding and interest in Contracts of the company.
(iii) Duty to hold minimum qualification shares within two months after his appointment.
(iv) Duty to issue prospectus and fix the minimum subscription.
(v) Duty to take care that prospectus should not contain any false or misleading statement.
(vi) Duty to carry out all other activities as specified in the Act in time.