Remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2010 Dear All,

We have a private limited company. Our Boss is CEO and director in the same company and taking as remuneration as a CEO.
Now we want to appoint him on another private limited company as a Managing Director.
Can he take remuneration as a Managing Director in another private limited Company.

udit sharma

udit sharma (Expert)
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25 November 2010 Hi....

Undoubtedly he can take the remuneration as Managing Director in another Private Company as the provisions of section 309 of the Companies Act, 1956 pertaining to remuneration of Managing Director are not applicable to an Independent Private Company.

This is my opinion and views of other experts are welcome:-)

God Bless

Udit Sharma

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2010 Dear Udit,
Thanks for your guidence.
But, our CEO holds share in another private company where we want to appoint him as a Managing Director.
So, Can we give remuneration to him as a Managing Director in another private company where he holds 100% shareholding?

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udit sharma

udit sharma (Expert)
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25 November 2010 In my opinion you can!