Mine is private limited company ABC.ABC have appointed one Japanese Director as a Director of the Company. He stays in India, sits in the office of ABC and draws salary from ABC in India.
My question is should that Director be appointed as Whole time Director.???? If he is not appointed as Whole time Director then is there any violation in law.????The company is not having any whole time director.
Though, the provisions of section 269 does not apply to Private Company. However, such private company should appoint him as WTD and pay him remuneration.
Dear Sarika,
First of all you must check his (that Japanese Director) visa status, whether he is on employment visa or on business visa or on tourist visa ?
In case he is on employment visa only then he can take the salary/remuneration otherwise there will be contravention of Visa Rules. Further, as he is working in India solely with this Company as Director then he must be regarded as Whole Time Director (although provisions with regard to managerial person/remuneration are not applicable to a Private Limited Company, provided the same is not a subsidiary of a Public Limited Company)
Best Regards
CS Ashwini Kumar
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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T R SOOD & CO
New Delhi
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