Office or Place of Profit
This query is : Resolved
08 April 2010
a director of public limited company becomes and employee of the same company after his appointment as director and getting remuneration, ...whether provision of Section 314 is attracted if yes what is the procedure
Jagruti (CS)
(Expert)
08 April 2010
Any Director becoming employee of Company is deemed to be Whole Time Director as per Section 269 of the Companies Act, 1956.
Hence you have to appoint that person as WTD.
Any remuneration paid to such director which is approved by Members will not attract Section 314.
But any amt paid which is not approved will attract section 314
Hence you have to appoint that person as WTD.
Any remuneration paid to such director which is approved by Members will not attract Section 314.
But any amt paid which is not approved will attract section 314
Message likes :
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08 April 2010
AGREE WITH EXPERT
CA Ravi Sisodia
(Expert)
08 April 2010
Agreed...
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