Director

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charudatta (Querist)
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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?

Ankur Garg

Ankur Garg (Expert)
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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

Ankur Garg

Ankur Garg (Expert)
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20 June 2009 Also read Section proviso to 309(1) of the Companies act, 1956 throughly.

Regards

charudatta

charudatta (Querist)
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20 June 2009 Thanks...

If said company is Pvt ltd.?

Ankur Garg

Ankur Garg (Expert)
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22 June 2009 In case of pvt. co. the provisions relating to remuneration not applicable.

Also section 309==not applicable.

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