Mr. X is appointed an Occupier in a Company,where he is in employment and drawing salary and the Company has appointed him as Non-Executive Director.
Is this acceptable in the eyes of Company's Act ?
Hirak Ghosh (GM CS & Legal) (36 Points)
07 August 2011Mr. X is appointed an Occupier in a Company,where he is in employment and drawing salary and the Company has appointed him as Non-Executive Director.
Is this acceptable in the eyes of Company's Act ?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 08 August 2011
As per factories Act, any Director of the Company can be the Occupier.
Therefore, we can nominate any Director as Occupier.
SANTOSH SHAH
(Company Secretary)
(754 Points)
Replied 09 August 2011
| Originally posted by : Hirak Ghosh | ||
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Mr. X is appointed an Occupier in a Company,where he is in employment and drawing salary and the Company has appointed him as Non-Executive Director. Is this acceptable in the eyes of Company's Act ? |
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Hello Mr.Hirak
Apart from agreeing to what Mr.Ankur said, In my view, Mr.X being in employment and drawing salary then he can be appointed
as Executive Director and not Non Executive. Non Executive Director would be one who will not be in employment but
would be attending Board meetings as and when and giving Advices out of specialized knowledge they possess.
So kindly look into that.
Other views solicited
regards
Santosh Shah
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