Can a managing director (as whole time employee) of unlisted company be a non-executive director in private company and draw professional fees for the services rendered by him to that company out of normal working hours?
1 Replies
Jatin Bajaj
(CS)
(2930 Points)
Replied 01 October 2019
As per the provisions of Companies Act 2013, a director can hold the office for a maximum 20 Companies out of which 10 should be the public Company. Private Companies which are subsidiaries of public Company are deemed to be considered as public Company. The Managing Director can hold the office as non executive director in other Company and can draw the remuneration from both the Company and remuneration draw from both the Company shall not exceed the highest remuneration earned from any one of the Company
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