What is the maximum amount of sitting fees that can be paid to a director for a board meeting of a govt listed company having a paid capital of aprrox 1150crores. Plz reply its urgent
ritesh garg (article) (95 Points)
28 September 2010What is the maximum amount of sitting fees that can be paid to a director for a board meeting of a govt listed company having a paid capital of aprrox 1150crores. Plz reply its urgent
Ajay Mishra
(Company Secretary)
(74332 Points)
Replied 28 September 2010
Please see your company's article and the minutes of Board earlier passed for sitting fee.
Regards
CS Ankit Sinha
(Practising Company Secretary)
(22 Points)
Replied 28 September 2010
As per Section 310 first proviso limits on sitting fees are as under:-
a) for company having paid up + free reserve exceeding Rs. 10 Crore or turnover exceed 50 Crore the n sitting fees rs. 20,000/-
b) Other companies - Rs. 10,000/-
As the Section does not exclude govt. company hence i presume it aplies on govt co. also.
Regards
CS Ankit SInha
9289793061
SRIRAMALAKSHMI.V
(Company Secretary)
(191 Points)
Replied 11 October 2010
Agree CS Ankit SInha and view your company Articels
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