धारा 61

A company having a share capital shall have at least three directors. The company may, by its articles, increase or reduce the number of directors. The directors may be appointed by the company in general meeting or by the board of directors. The first directors of a company shall be appointed by the subscribers to the memorandum and such appointment shall be effective notwithstanding that the company is not registered. The first directors shall hold office until the first general meeting of the company. The directors shall hold office for a period not exceeding five years from the date of their appointment and shall be eligible for reappointment. The directors may resign their office by giving notice in writing to the company. The company shall, at the first general meeting, elect a managing director or whole-time directors, as the case may be, and fix their remuneration. The managing director or whole-time directors shall hold office for a period not exceeding five years from the date of their appointment and shall be eligible for reappointment. The managing director or whole-time directors may resign their office by giving notice in writing to the company. The company may, by a special resolution, remove a director before the expiry of his term of office and no person shall be appointed as a director of the company unless he has given his consent in writing to act as a director. The company shall, within thirty days of the appointment of a director, intimate the appointment to the Registrar and shall file a return in the prescribed form with the Registrar. The company shall, within thirty days of the resignation or removal of a director, intimate the resignation or removal to the Registrar and shall file a return in the prescribed form with the Registrar.