18 June 2010
Dear Sir/Madam, Directors of pvt co can get the remuneration as per companies act ceiling.....in a profit making co...how can a director can be benefited apart from remuneration.... My means to say that can director of a pvt co.. can keep profit with himself? if yes how?
Kindly appreciate strict provisions and ceilings relating to managerial remuneration mentioned in companies act, 1956 are not applicable to a private company.
Hence you are free to give any managerial remuneration to your director in your private company subject to the provisions of your articles.