Question
Consider the following statements regarding the appointment of directors under Section 166 of the Companies Act, 2013: Statement 1: A director must exercise his duties with due care, diligence, skill, and expertise that a reasonably prudent person would exercise in similar circumstances. Statement 2: A director is personally liable for any breach of duty and the company cannot indemnify the director against such liability. Statement 3: A director owes his duties to the company as a whole, not to individual shareholders. Statement 4: A director must act in good faith and in the best interest of the company and for a proper purpose. Which statements are correct?
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