Section 211, The Companies Act, 2009

(1) Every company registered after the commencementof this Act shall have at least two directors. (2) Any company whose number of directors falls below two shall, within one month of its so falling appoint new directors and shall not carry on business after the expiration of 3 months, unless new directors are appointed. (3) A director of a company who knows that a company carried on business for more than 30 days after the number of directors had fallen below two shall be liable for all liabilities and debts incurred by the company during that period when the company so carried on (4) A director shall, immediately after being appointed as such indicate in writing that he has accepted the appointment.