Interested Director in Pvt Ltd Co

Dear Experts,

We have just formed a new Pvt   Ltd, wherein  Mr. VKK and his wife SVK  and myself are directors.

Mr. VKK has developed  a water harvesting  technique for which he recd the Indian Patent .  He  will  be giving  the rights of this patented technique to this KRwH Pvt  Ltd   and  the Pvt Co   will be paying   Royalty  to Mr. VKK.

However,  the consultant say the above transaction  between  KRwh Pvt Ltd  and  Director-Mr, VKK  will amount to  Director  being Interested  and thus  entail lots of  compliances  and  lots of objectionalbe query  by various  govt depts- Co Law,  Income Tax, etc

Hence, the consultant advices that  Mr VKK, although he can be major shareholder, should not be the director  and can be a CEO or President  of Pvt Ltd Co  and under  power  of  attorney / authority of the Pvt Ltd , he can sign, deal,  give presentation, enter into contracts on behalf of the Company.

Dear Experts, kindly  give your expert opinion and advice.

Thanks in advance.

regards,

Sanjay Agarwal=93729-56550

Aurangabad