Duties and Obligations of Directors in Corporations: A Comparative Analysis of Section 172 of the Companies Act, 2006 and Section 181 of the Corporations Act, 2001
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This essay compares the adequacy of Section 172 of the Companies Act, 2006 and Section 181 of the Corporations Act, 2001 in covering the duties and obligations of directors in corporations. It also discusses the implications of acting in the best interests of the company and the shareholders. The essay argues that Section 181 of the Corporations Act, 2001 is sufficient in covering the duties and obligations of directors and that incorporating the wordings of Section 172 of the Companies Act, 2006 would lead to wider less concrete interpretations of the duties of the directors.
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