Appt of managing director

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Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2011 A foreigner is appointed as a managing director with remuneration in a purely private limited company.Does the company attract Sec 269, 198, 309 and 310.

CA PRAVIN

CA PRAVIN (Expert)
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19 October 2011 Section 269, 198, 309 and 310 are not applicable for private company.

Further RBI has clarified that NRI can be appointed as a director of company.

So foreigner can be appointed as a MD of Pvt Ltd company with remuneration.

There is no restriction for Managerial remuneration of PVT Ltd company.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2011 Thanks a lot