Sitting fees

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2013 Would sitting fees paid to non executive director who constitutes a related party, would it require disclosure under AS18. would it be treated as reimbursement of expenses, hence no disclosure is necessary?
Thanks.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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09 August 2013 if such non executive director falls in the definition of related person then disclosure is neccesary.

even for reimbursemnet still disclosure is required if he is within defintion of related person.

Ganeshbabu K

Ganeshbabu K (Expert)
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09 August 2013 Any amount paid to director will be related party and accordingly disclosure should be done

Disclosure should be in such a way that nature of relationship with the company and nature of transactions and amount

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