abhishek kadam (Self employed) (151 Points)
22 September 2012Dear All,
If an Independant director receives consultation fees from the Company (which is a Public Listed Company) apart from sitting fees, will he be treated as Direcotor but not as Indepdent Director...???
What about if all the shareholders give their consent in General Meeting for the services rendered to the Company and receives directly or indirectly fees from the Company..??
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 22 September 2012
I dont think receiving consultation fees by independent director change its status from independent to dependent.
Independent director means a director who dont have any interest in the company apart from receiving remuneration.
So, as per me, independent director will remain independent.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 22 September 2012
If the fees is given his terms of appointment as remuneration then it can be paid otherwise the payment would be covered under section 314 and special resolution is to be passed for the same.
CAclubindia
