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A “managing Director” means a director who by virtue of “Articles of Association” of a company or an agreement with the company or a resolution passed in its general meeting, or by its board of directors, is entrusted with substantial powers of management of affairs of the company.

Ordinate director are also referred to as simple directors who attend board meeting on a company and participate in the matters put before the board.

An additional director is someone appointed by the directors between two annual general meetings subject to the provision of the articles of association of a company. Additional directors shall hold office only Upto the date of the next annual general meeting of the company. Number of directors and additional directors of a company together shall not exceed the maximum strength fixed for the board of directors by the articles of association.

An alternate director is a person appointed by the board if so authorized by the article or by a resolution passed by the company in the general meeting to act for a director called “The original director” during his absence for a period of note less than three months from the state in which meetings of the Board are ordinarily held. Generally, the alternate directors are appointed for a person who is non-resident Indian or for foreign collaborators of a company.

Any director possessing professional qualifications and do not have any pecuniary interest in the company are called professional directors. In large companies professionals are sometimes appointment to the board to utilize expertise in the management of the company.

Bank and private equity investors who grant debt or equity assistance to a company generally impose a condition as to appointment of their representative on the board of the concerned company. These nominated person are called as nominee director.