Can anybody suggest that which sections of corporate law will apply to the following query:-
A person is a Director in a public limited company and getting sitting fees, he is merely a sitting director only. He is also an employee in a private company, and getting salary from there. which sections are to be followed.
Dear Parashar....there is no need to search any section. As long as the person is not a WTD or MD in public company, there is no restriction on his working as an employee in a private company. In other words a person can hold a position of an employee in a company and draw salary, if he is not in a whole time employment in any other company.
Regards
Abic and Mani Chartered Accountants
Kottayam
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