State whether the following statements are True or False.

1) Large number of shareholders necessitates company to have separate managerial body.
2) Maximum number of Directors allowed to a company are 15 (fifteen).
3) A public company should have a minimum of 10 (ten) directors
4) DIN is required for Secretaryship.
5) Executive Director is called as outside Director.
6) Promoter of a company cannot be the Independent Director.
7) Only individuals can be directors.
8) Casual vacancy of Board is filled by the members.
9) To function as per Articles of Association of the company is statutory duty of the Board.
10) A Director is an employee of the company.
11) Managing Director is appointed by a resolution.
12) Minimum and Maximum age to be a Managing Director is 21 and 70; respectively.
13) A company may appoint more than one M. D.
14) Indian companies prefer a Managing Director over a Manager.