company law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2010 Dear All

Pl. express your views on the following matter.

1) A director of public limited company is drawing salary. He resigns as director. Company proposes to pay salary to him as an employee. As the person is related to another director whether provisions of section 314 will apply ?

2) An existing director is proposed to be appointed as whole time director as he is going to draw monthly remuneration. Please specify the procedure to be followed with draft resolutions.

Ankur Garg

Ankur Garg (Expert)
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05 September 2010 Provisions of section 314 will apply if and only if the person who is still a director is on office or place of profit.

Kindly provide the salary details of employee.

Regards

Ankur Garg

Ankur Garg (Expert)
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05 September 2010 For appointment of WTD in a public company section 269 is applicable.

By passing a board resolution you may appoint a person as WTD.

You have to file form 32 within 30 days of passing board resolution.

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