Director
This query is : Resolved
charudatta
(Querist)
20 June 2009
If company is paying professional fees to its director. Is it necessary that such director has to be authorised to act as such?
What compliances have to be complied with?
What compliances have to be complied with?
Ankur Garg
(Expert)
20 June 2009
Such professional fees will be considered in overall remuneration of the dir.
As per section 309 (1) if in the opinion of CG the dir is possessing the requisit qualification then in that case the same professional fees shall not be considered in his total remuneration.
so if the dir is possessing the requisit quali then it is better to obtain the CG approval.
Regards
As per section 309 (1) if in the opinion of CG the dir is possessing the requisit qualification then in that case the same professional fees shall not be considered in his total remuneration.
so if the dir is possessing the requisit quali then it is better to obtain the CG approval.
Regards
Ankur Garg
(Expert)
20 June 2009
Also read Section proviso to 309(1) of the Companies act, 1956 throughly.
Regards
Regards
charudatta
(Querist)
20 June 2009
Thanks...
If said company is Pvt ltd.?
If said company is Pvt ltd.?
Ankur Garg
(Expert)
22 June 2009
In case of pvt. co. the provisions relating to remuneration not applicable.
Also section 309==not applicable.
Also section 309==not applicable.
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