The fiduciary duty of directors is to act in the best interests of shareholders.
Directors are obliged to promote the interest of the company above the personal interest.
Director should not enter into an engagement in which there is a possibility that the director’s personal interest could conflict with the company.
Conflict is a natural part of our life and so it’s difficult to avoid them always.
Companies are required, in the form of notes in the annual accounts, to disclose any information concerning transactions involving the directors. This includes any transaction or arrangement that is a material interest.