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of <h1>Company Directors Must Act in Good Faith, Avoid Conflicts of Interest, and Face Fines for Duty Violations.</h1> Directors of a company must adhere to the company's articles and act in good faith to promote the company's objectives for the benefit of its members, employees, shareholders, community, and environment. They must exercise their duties with care, skill, diligence, and independent judgment. Directors should avoid conflicts of interest and not seek undue personal gains. Any assignment of their office is void. Violations of these duties may result in fines ranging from one lakh to five lakh rupees.
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