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    Salary to Non Executive Director

    Posted By : CS Shiriti / Published on : 10-Oct-2020 06:54 AM / View : 322 / Comment : 0

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    Now in a Public Company, a person is appointed as Executive Director. He is not designated as Whole time Director. But as per Rule 2(k) of Chapter 1, Executive Director means Whole time Director. So due to this definition, he becomes WTD the moment he is appointed as Executive Director.

    But is proposed to appoint him as Executive Director in other group companies. However, Section 204 prohibits appointment as WTD in more than 1 Company. So he will have to be appointed as Non Executive in other companies. So he cannot draw salary in other companies. And he is running the other companies also. So how can he be Non Executive? I am unable to decide what is the best solution. Please revert.
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