director executive term interpretation
Hi All
An Acquirer has made a public announcement of an open offer to acquire the shares of the target company, and the acquirer intends to delist the company post-takeover.
Whether the acquirer has to mandatorily disclose the intention of delisting the securities in the public announcement?
post takeover securities delist intention disclosure
Hi Members!
What is the procedure to Convert an OPC to a Private Company?
What Forms will be required to be filed and what are the due dates for filing such forms?
Please share!
company private conversion
Hi All
Whether the provisions related to the Disqualification of Directors as provided in the Companies Act, 2013 applicable to the Designated Partners of the LLP?
If yes, then how the same shall be applied to the Partners?
partners desig disqualification
Hi Members!
Is there any declaration required in case a merger or amalgamation is taking place between an Indian company and a company or body corporate has been incorporated in a country that shares a land border with India?
border india land sharing amalgamating companies declaration
Hi All
What is the due date to intimate the ROC for change in the situation of the registered office of the company?
In case the subscriber to the memorandum is a foreign national
residing outside India, his signatures and address, etc. shall be
witnessed by a Notary Public/Embassy/Consulate offices of
Embassies as per the Rule 13 of the Companies (Incorporation)
Rules, 2014.
In such cases, how can the DSC of such a witness be affixed?
incorporating company while nationals foreign attestation
Hi All,
What are the consequences of the Non-Filing of Form MSME-1 with the RoC?
Could you also please help me out with what details are mandatorily required to be filled in?
msme form filing consequences
A UK Ltd (Registered in the UK) was holding 25% holding in B Ltd (registered in India).
Now ownership of A UK Ltd was transferred to C UK Ltd.
Therefore there is an indirect change of beneficiary ownership of B Ltd ( registered in India)
Is there any FEMA filing requirement in RBI by B Ltd or A UK Ltd?
change beneficiary ownership indirect case filing requirements fema 
Dear Arun!
The term Executive Director is defined under Rule 2(1)(k) of the Companies (Specification of definitions details) Rules, 2014 as:
“Executive Director” means a whole time director as defined in clause (94) of section 2 of the Act.
Further, as per Section 197(1)(ii):
The remuneration payable to Directors who are neither managing Directors nor whole time directors shall not exceed,—
(A) one per cent. of the net profits of the company, if there is a managing or whole-time director or manager;
(B) three per cent. of the net profits in any other case.
Consequently, the statement "A director getting remuneration is an Executive director" is not true as per above discussion the Non-Executive Directors also allowed to receive remuneration.
Thanks!