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APPOINTMENT OF DIRECTORS (Corporate Law)

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This query is : Resolved


( Author )
19 December 2009

Helo sir,

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.......


Ankur Garg

( Expert )
19 December 2009

1. No

2. Yes

3. Compant act is silent as far as definition is concerned.

Executive dir means a director who is drawing salary from the company or holding the designation of WTD or MD.

Regards


Regards


B.Chackrapani Warrier

( Expert )
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.


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