If a Pvt Ltd Co, pay remuneration to its Director then is it mandatory to disgnate him/her as a whole Time Director?
What are the provisions?
Regards,
Sondip Goswami
1 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5146 Points)
Replied 30 August 2015
As per section 269 of the existing Act, every public company or a private company which is a subsidiary of a public company, having a paid up share capital of Rs. 5 crore, is required to have a managing or whole time director or manager.
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