Angel Ray (student) (123 Points)
19 February 2014Dear 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.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 19 February 2014
No it will not be treated as materil pecuniary relationship.
Angel Ray
(student)
(123 Points)
Replied 20 February 2014
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
