Duties Defined and Duties Performed: A Gap Analysis of Directors' Duties in Small and Medium size Enterprises, Punjab, by University Business School, Panjab University, Chandigarh; 2016

(Executive Summary)

A corporation is an artificial being, invisible, intangible and existing only in contemplation of law. Therefore, a corporation, not being the natural person, cannot take an action or a judgement itself, rather it requires a channel through which it can take actions and decisions. The directors of the company thus serve as the required channel to accomplish the decision-making and actiontaking task of the corporation. A corporation has its separate identity than its shareholders and its agents. Looking at this necessity, if the agents for carrying out its task, the role of the directors of a company becomes of paramount essence.

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