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of <h1>Directors Must Follow Section 166 of Companies Act 2013: Act in Good Faith, Avoid Conflicts, Face Fines for Violations.</h1> Under Section 166 of the Companies Act, 2013, directors 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. Directors are required to exercise due care, skill, diligence, and independent judgment. They must avoid conflicts of interest, refrain from seeking undue gains, and cannot assign their office. Violations of these duties can result in fines ranging from one lakh to five lakh rupees.
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