directors remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2010
Can a practicing chartered accountant who is a non executive director draw remuneration from that private company.
28 January 2010
Yes
28 January 2010
No.
A member in practice shall be permitted to be a Director (Director Simplicitor), of any company including a Board
Managed Company.
(a) Director Simplicitor:
(i) the expression 'Director Simplicitor1 shall be used for an ordinary/simple Director, who fulfills
the following conditions :
(a) he is required to attend the Board meetings only.
(b) He will not be paid any remuneration except the sitting fees for attending the Board
meetings; and
(c) He will be devoting his time for the company only to attend Board meetings and not for any
other purpose.
(ii) A member in practice is permitted generally to be a Director Simplicitor in any Company
including a Board-Managed Company and as such he is not required to obtain any specific
permission of the Council.
A member in practice shall be permitted to be a Director (Director Simplicitor), of any company including a Board
Managed Company.
(a) Director Simplicitor:
(i) the expression 'Director Simplicitor1 shall be used for an ordinary/simple Director, who fulfills
the following conditions :
(a) he is required to attend the Board meetings only.
(b) He will not be paid any remuneration except the sitting fees for attending the Board
meetings; and
(c) He will be devoting his time for the company only to attend Board meetings and not for any
other purpose.
(ii) A member in practice is permitted generally to be a Director Simplicitor in any Company
including a Board-Managed Company and as such he is not required to obtain any specific
permission of the Council.
CA Ravi Sisodia
(Expert)
28 January 2010
no
29 January 2010
No
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