(i) A managing director means a director who is entrusted with substantial powers of management which would not otherwise be exercisable by him. The “substantial powers” of management may be conferred upon him by virtue of an agreement with the company, or by a resolution of the company or the Board or by virtue of its memorandum and articles. The powers so conferred are alterable by the company. A managing director occupies the dual capacity of being a director as well as an employee of the company. The day to day management is entrusted to the managing director who can exercise powers of management without referring to the Board.
(ii) A manager of a company is the in-charge of a team. He makes plans, directs his team, motivates them to achieve their goals. In a company, every department can have a manager, for example, Manager Marketing, Manager Accounts, etc. The duties of different managers may vary according to their assignments.
