I need some clarification regarding appointment of directors in a private company..
1. can we appoint a director as a executive director (whole time director) for more than one company? 2. Whether a director can draw salary from more than one company? 3. Where we the find the exact meaning of Whole time, executive, non executive director in the company's Act..
I just gone through the provisions under companies act.. but i culdnt get a clear and eact answers for my questions... can anyone plz help me...
if it s mentiond in the section plz quote the section no.......
19 December 2009
Little more reference :- As per the explanation under section 269 of the Act, a whole-time director includes a director in the whole-time employment of the company. In other words, a director who devotes his whole time to the affairs of a company is called a whole-time director of the company. A whole-time director of a company cannot accept the position of a whole-time director in other companies, though he may accept office of non-whole-time director in other companies subject to the limits imposed by section 275 read with sections 277 and 278.