Salary to wtd/md

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2015 Can a director function as a Whole Time Director in one Company and MD in another Company(both being Private Companies)

If yes, can he draw remuneration from both companies?

Pratik Shah

Pratik Shah (Expert)
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17 December 2015 If section 203 is not applicable in any of your companies, then there are no other restriction in the Act which can restrict a person to be MD in one company and WTD in another.

He can draw remuneration from both the companies, subject to specified limit as given in Schedule V, if Section 197 is applicable to any of the two companies.

Please refer Section 196, 197, 203 and Schedule V.
Let me know if you have any query in this regard.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2015 Both are private companies only. And the company is not covered under the provisions of KMP

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