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Sitting fees paid to chairman

This query is : Resolved 
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(Querist)
16 October 2011 Hi,
Does sitting fees paid to a Chairman come in the ambit of Sec 198 and 309? In case if it does, can the sitting fees exceed Rs.20,000/- per board meeting? Do we have to consider Section II of Part II of Schedule XIII (as amended by Notification No. GSR 36(E) dated 16th Jan 2002 where the sitting fees exceed Rs. 20,000/- ?

Regards,
Harshad
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CA Hardik

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CA Hardik (Expert)
16 October 2011 Sitting Fees paid to Director does not come under perview of Sec 309 .
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