director holding an office or place of profit

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2010 dear all,
an independant director of a private ltd company is not in receipt of any remmuneration but is a technical consultant of the co. on retainership basis, is he a director holding an office or place of profit, if so what are the applicable provisions with section no.

29 November 2010 In my opinion the Diretor can not be said to hold a office or place of profit in the company.....

Best Regards

Udit Sharma

29 November 2010 Hi

If a director taking any money from a company other than from his directorship will come under the provision of section 314.


Regards

29 November 2010 Agree with Mr. Mishra

29 November 2010 Since the Director is not in receipt of any remuneration as Technical consultant, provisions of section 314 are not attracted in this case...

29 November 2010 Sharmaji's observation may be followed in view of section 314(3) of the Companies act,1956.

29 November 2010 Section 314 is not applicable in the aforesaid case.

Thanx

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2010 Sir,
there is a correction to my question. the director is taking fees for such technical services. what are the consequences?

08 December 2010 Section 314 is applicable if the technical services is on regular retainership basis.


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