C.A. AS DIRECTOR IN A PVT LTD COMPANY WITH REMUNARATION

This query is : Resolved

R CHALAPATHI NAIDU (Querist)
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07 July 2008 HELLO GOOD MORNING,

1. WHETHER A PRACTICING CHARTERED ACCOUNTANT CAN BECOME A MEMBER OF BOARD OF DIRECTOR OF A PVT LTD WHERE HE IS NOT STATUTORY AUDIT OF THE SAME COMPANY.

2. CAN HE DRAW A REMUNARATION ON MONTHLY BASIS

WHAT IS HIS POSITION IN THE COMPANIES ACT AS WELL AS CHARTERED ACCOUNTANTS ACT POINT OF VIEW

REGDS
RCN

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Guest (Expert)

07 October 2009 1. he can become non-executive or independent director only.

2. he can draw remuneration on sitting fee basis only.

He will be considered as expert appointed in the company & will not carry audit of the same company. He will not transact with company in any manner.

Moreover, the comapny is not creditor for more than Rs. 1000 from CA.