General query

This query is : Resolved

ARTHI (Querist)
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30 July 2015 Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

A person was appointed as Executive Director in a Private Limited Company, where his relatives are the Promoter-Directors.

Query

Executive Director is not drawing Salary from his Company for the time being.

Will MCA view this as a procedural issue / non-compliance on the part of the Company and initiate any action (after all, it is the will of the ED)?

Your reply, please..............

Thanks in advance for possible replies from all concerned.

Pratik Shah

Pratik Shah (Expert)
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31 July 2015 Executive Director do not need to get salary from the Company. This is normal case. Almost every company has Executive Director who does not get salary from the Company.