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Directors Remuneration

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(Querist)
05 September 2009 Please explain the procedure as per the Companies Act for payment of remuneration to a Director of a Private Limited Company who is also a Managing Director of some other Private Limited Company and is also a shareholder in both the Priave Ltd., Companies. Also the profit of the Company that wants to pay remuneration to its Director/Directors is less.
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Ankur Garg

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Ankur Garg (Expert)
05 September 2009 Hi,

Strict provisions related to managerial remuneration are not applicable to a private company.

So by passing a board resolution you may give remuneration to your director.

Regards
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Sreedhar Atchutuni ACA,GradCWA

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Sreedhar Atchutuni ACA,GradCWA (Expert)
05 September 2009 Yes, I agree with above expert.

Provisions of companies act relating to directors remmuneration does not apply to a private company.
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Ankur Garg

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Ankur Garg (Expert)
06 September 2009 Thanks sreedhar
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Sreedhar Atchutuni ACA,GradCWA

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Sreedhar Atchutuni ACA,GradCWA (Expert)
07 September 2009 Thanks and welcome Mr.Ankur Garg ji
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