1. The Company is a private Company.
2. Co. is prposing to give remuneration @ 2L p.m with effeect from 1st April 2011.
3.Articles states that remuneration to be paid only after convening A.G.M or E.G.M.
4. The proposed director is not a Whole Time Director or Managing Director and does not posses any professional capacity.
5.There are only 3 Directors and till date retirement by rotation clause is not applied.
Here comes my doubt.
1. Whether the said director can be given remuneration without being reappointed in the General Meeting in the past but now he will be reappointed/can he become executive director directly.
2. Can he become both an Executive Director and a part time director and get the remuneration.
3. What are the restrctions or condition on becoming an executive director
Please advice
2. Co. is prposing to give remuneration @ 2L p.m with effeect from 1st April 2011.
3.Articles states that remuneration to be paid only after convening A.G.M or E.G.M.
4. The proposed director is not a Whole Time Director or Managing Director and does not posses any professional capacity.
5.There are only 3 Directors and till date retirement by rotation clause is not applied.
Here comes my doubt.
1. Whether the said director can be given remuneration without being reappointed in the General Meeting in the past but now he will be reappointed/can he become executive director directly.
2. Can he become both an Executive Director and a part time director and get the remuneration.
3. What are the restrctions or condition on becoming an executive director
Please advice
CAclubindia
