24 December 2010
Whether the reimbursement of expenses incurred by the director in attending meetings shall be considered for the limits of managerial remuneration.
I belienve that they shall not be considered. please guide me...
24 December 2010
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Section 309(2) provides that a director may receive remuneration by way of fee for each meeting of the Board of Directors.
In view of the above, sitting fee, travelling allowance, etc, are payable to directors who was present at the meeting of the Board, (Circular No. 1/72 dated 2nd February, 1972).
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