How many types of directors can be there in a company?

As per Companies Act a company has following types of Directors:

Directors (maximum 12 in a company, to increase the limit approval of Central Govt. has to be obtained.)

Whole time Directors - appointed as per schedule XIII read with section 269 of the Companies Act, 1956, as amended.

Managing Director - appointed as per section 269 of Companies Act, 1956, read with Schedule XIII of the Companies Act, 1956, as amended. A public ltd. co.( listed or unlisted) having paid up capital of Rs. 5 cr. must appoint a Managing Director, who has substantial powers of Management. A M.D. can be appointed for two companies as per section 316 of the Companies Act, 1956.

A whole-time director is appointed for one company only as he is supposed to be working full time. He is also known as Executive Director.

Executive Directors - Directors who are paid salary are known as executive directors.

Non-executive directors are not paid any salary except sitting fee for attending meetings of the Board of Directors.

Independent Directors, not related to Promoters, not associated with the company as vendors, selling agents etc. and not employees of the Co. They are mainly outsiders and are required if remuneration is to be paid to Directors beyond 5% of the profits of the Company to each Director within overall limit of 11% of the profits calculated as pe section 349 and 350 of the Companies Act, 1956.

Designated Directors - they are not members of the Board of Directors, no F-32 is filed for Designated Director with ROC, they are appointed for special purpose, in education institutes, tourism etc.

Addl. Directors - appointed by Board of Directors upto forthcoming AGM where they are regularised by shareholders

Alternate Directors - They are appointed against Casual Vacany of a Director, by the Board of Directors and hold office upto the date of retirement of original director in whose vacancy they are working.

Nominee Directors - They are appointed by the Financial Institutions or Banks who lend money to the Company.

Directors liable to retire by rotation - 1/3 of the directors liable to retire by rotation (2/3 of the total no. of Directors must be directors liable to retire by rotation as per section 255 of the Companies Act, 1956) must retire at every AGM and they are eligible to be re-appointed.

Permanent Directors are usually promoters and they are specified in the Articles of Association of the Company. They do not retire by rotation.

To conclude they are as under

Managing Director
Whole-time Director
Executive Directors
Non-Executive Directors
Independent Directors
Designated Directors.
Addl. Directors
Alternate Directors
Nominee Directors
Directors liable to retire by rotation
Permanent Directors

Max. no. of Directors laid down in MOA is 12 and this limit can be exceeded with Central Govt. Approval

Min. no. of directors in Public Ltd. co. must be 3 and min. no. of Dir. in pvt. ltd. co. is 2