Parashar (Company Secretary 2004) (1013 Points)
28 February 2012Can anybody suggest that which sections of corporate law will apply to the following query:-
A person is a Director in a public limited company and getting sitting fees, he is merely a sitting director only. He is also an employee in a private company, and getting salary from there. which sections are to be followed.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 28 February 2012
Dear Parashar....there is no need to search any section. As long as the person is not a WTD or MD in public company, there is no restriction on his working as an employee in a private company. In other words a person can hold a position of an employee in a company and draw salary, if he is not in a whole time employment in any other company.
Regards
CAclubindia
