Dear all,
My company is going to appoint an independent director who is also director of the company in which our company has commodities demat account.
Will his appointment hit the point of 'material pecuniary relationship' in cl 49.
Pls advise on urgent basis.
No it will not be treated as materil pecuniary relationship.
But the lines of cl 49 says the Independent director can receive only remuneration and no other material pecuniary relationship may exist?
pls clarify..
CAclubindia
