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Section 310 (10 B)

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(Querist)
27 September 2010 Can any help me with this query..

Is section 310 (10 B) of Companies Act,1956 which is about Sitting Fee, applicable to Private Company, which is NOT a subsidiary of Public Company.
Also provide me with the Central Government rules..
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Ajay Mishra

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Ajay Mishra (Expert)
27 September 2010
The provisions of managerial remuneration along with sitting fee will not apply to private company unless it is subsidiary of public company. There is no need to take Central Government approval.

Regards
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Ruchi

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Ruchi (Querist)
27 September 2010 Thanks Ajay..
Can you please tel me that, can a private company pay sitting fee to its director's more than the amount prescribed in the section..
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