Remuneration to part time executive director

This query is : Resolved

YOGESH GUPTA (Querist)
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08 September 2008 Sir
Our company promoted a director as part time executive director. Please provide the list of formalities to be compplied with under the companies act

Please provide the list as urgent as possible

Regards
Yogesh

RAMPRASAD

RAMPRASAD (Expert)
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24 September 2008 Part-time or whole time, he is for the purpose of the Act will be a Whole-time Director only. Remuneration etc will be governed by the provisions of the Act. Please refer section 198/269 of the Companies Act.

Before that please tell whether your company is a private or Public company. Because the stringent requirements for the payment of remuneration etc are only for public companies.