01 August 2016
Shadow director is not actually a person who is appointed/designated as Director of a Company. But this is a Person (mostly an employee of manager cadre), in accordance with whose directions or instructions the Board of directors of the company is accustomed to act. This shadow director are construed as real decision maker of the company.
Shadow directors are considered as officer in default as per the companies act 2013 and are liable for penal action for non compliance
CAclubindia
