Section 217(2A) Companies Act

Muralidharan (Self Employed) (1034 Points)

20 May 2009  

Dear Members

Kindly clarify whether the Managing Director of a Company will be termed as Employee of the Company within the meaning of Section 217(2A) of the Companies Act, 1956.

(Note : My company MD is drawing remuneration in excess of Rs.2.00 lacs per month [24.00 lacs per annum]. I want to know whether the details of his remuneration need to be included with the Directors Report.

with regards

Muralidharan