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.

(i) As regards to the qualification of directors, there is no direct provision in the Companies Act, 2013.
(ii) In general, a director shall possess appropriate skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing, administration, research, corporate governance, technical operations or other disciplines related to the company's business.
(iii) According to the different provisions relating to the directors; the following qualifications may be mentioned:
(a) A director must be a person of sound mind.
(b) A director must hold share qualification, if the articles of association provides such.
(c) A director must be an individual.
(d) A director should be a solvent person.
(e) A director should not be convicted by the court for any offence, etc.

 Types of directors as per companies Act, 2013
(i) Residential Director: According to section 149(3)of Companies Act 2013. Every company should appoint a director who has stayed in India for a total Period of not less than 182 days in the previous calender year.
(ii) Independent Director: An independent director is an alternate director other than a Managing Director who is known as Whole Time Director or Nominee Director.
(iii) Small Shareholders Directors: Small shareholders can appoint a single director in a listed company.But this action needs Commerce a proper procedure like handing over a notice to at least 1,000 Shareholders or 1/10th of the total shareholders. 
(iv) Nominee Director: A director nominated by any financial Institution in pursuance of the provisions of any law for the time being in force, or of any agreement, or appointed by any Government, or any other person to represent its interests.
(v) Women Director: There should be at least one woman as a director on the Board.
(vi) Additional Directors: Any Individual can be appointed as Additional Directors by a company.
 

(i) Key-Managerial Personnel of a Company :
Companies Act, 2013 (Act) has introduced many new concepts and Key Managerial Personnel (KMP) is one of them. KMP covers the traditional roles of managing director and whole time director and.also includes some functional heads like Chief Financial Officer and Chief Executive Officer and Company Secretary
(ii) Key Managerial Personnel : Managerial personnel is contained in section 2(51) of the Companies Act, 2013.This Section states:
(a) The Chief Executive Officer
(b) The Managing Director or the Manager
(c) The Company Secretary
(d) The Whole-time Director
(e) The Chief Financial Officer, and
(f) Such other officer as may be prescribed.