Appointment of whole time director

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YOGESH GUPTA (Querist)
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31 July 2008 Ordinaray director not getting any remuneration till date. It is proposed to give him remuneration. For this purpose he has to be named as whole time director or executive director.
Querry is whether we have to file form-32 om this situation.

Would appreciate early reply. Thanks in advance

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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31 July 2008 You can remunerate a non-wholetime director also, by way of commission. See section 309.

YOGESH GUPTA

YOGESH GUPTA (Querist)
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31 July 2008 Sir
company wants to give him remuneration in the shape of salary.
The question is whether we have to file form-32 again for the same director in case of giving remuneration to him and designate him as "Executive Director" or Whole Time Director.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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31 July 2008 Non-wholetime director can not be given salary. He has to be duly appointed as wholetime director and his remuneration has to be inaccordance with law. On such appointment Form 32 will also become applicable.

YOGESH GUPTA

YOGESH GUPTA (Querist)
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31 July 2008 Thanks

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