Cs as a director-can be called wtd

This query is : Open

Harvinder kumar (Querist)
Follow

02 February 2012 Dear Sir,
Kindly heed your attention on following issue-

1.A person is appointed as company secretary, some time later, the CS is appointed as the Director in the same company. Can he be called WTD? (he is in the employment of company and holding Directorship as well)

2.Please also describe that is there need to follow provisions of WTD in above mentioned case separately, if above said situation fall in WTD?

Please throw the light on it and indicate the relevant provisions in this regard.

Looking forward to your kind reply.

Thanks and Regards,
Harvinder Kumar Dinker

Guest

Guest (Expert)

04 February 2012 Pass SR u/s 314 (1) file form 23. No need to file form 32 for change in designation for WTD.

Harvinder kumar

Harvinder kumar (Querist)
Follow

06 February 2012 Thanks a lot for reply...

But I have another query related with above.

Suppose, now, company is public limited, the said CS is appointed on the good perks. After some period, the CS is appointed as the Director (in my point of view, he is WTD due to whole time in employment + Director)

Company is not earning adequate profit as per the provisions of Cos Act and Sch XIII is applicable here on the company. After becoming the Director, the said person can not fulfill the conditioned prescribed in Sch.XIII.

1. Does company need CG approval because after becoming director his salary in capacity of CS exceeds the limit.

2. whether in this case Section 269 be applicable on the said CS + Director (in my point of view he is considered to be WTD) If not applicable, please may be explained.

3.Whether crossing the remuneration, prescribed to the public ltd, still be applicable on the CS+Director or will not be applicable because he is not considered to be WTD and what he is drawing from the company only in the capacity of CS.

Words in rely will be greatly appreciated.

Thanks and Regards,
Harvinder Kr. Dinker

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now