statutory duties of a director are

1. The Board of Directors have to supervise, control and direct the Managing Director and Manager.
2. The board has to see that in the case of fresh issue all moneys received from applicants for shares are deposited in a scheduled bank till the minimum subscription is received or till the certificate of commencement of business is obtained
3. It has to see that no misleading statement is given in the prospectus
4. Every director should pay the application and allotment money before the commencement of business.
5. The Board has to prepare the statutory report and arrange for the statutory meeting within the time limit.
6. It must convene extraordinary general meeting as and when required.
7. It has to approve the annual accounts.
8. It has to recommend dividends.
9. Every director must obtain the qualification shares, if so required.
10. Every director who is interested in any contract must disclose his interest to other directors.
11. Every director must disclose his shareholding in the company.
12. It has to make a declaration of solvency of the company at the time of members voluntary winding up.

Hello Student,

Statutory duties are like that laws in a company, laws of govt. which members of a particular profession must obey.

Below I am listing some statutory duties of a director.

• Director has to see that no misleading statement is given in the prospectus.
• Every director should pay the application and allotment money before the commencement of business.
• It must convene extraordinary general meeting  as and when required.
• It has to approve the annual accounts.
• It has to recommend dividends.
• Every director must obtain the qualification shares, if so required.
• Every director who is interested in any contract must disclose his interest to other directors.
• Every director must disclose his shareholding in the company.

There are some basic duties of a director but also some duties may be more or less depending on company / institution.

Hope it helps.