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Remuneration to whole time director

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(Querist)
03 February 2011 Can a whole time director of two limited companies (one of the company is a listed company)withdraw remuneration as whole time director from both the companies within the limits prescribed by the Schedule XIII.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
03 February 2011 In my opinion a person cannot be appointed as WTD in two companies. WTD is in the whole time employment of the Company and by the very nature of office of WTD, a WTD cannot hold the office of MD or even a WTD in any other company, public or private.

As per Section 316, only MD or Manager can be appointed as MD of another Company.

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