Sitting fee

Guest (Querist) 19 May 2012 This query is : Resolved
Can M.D. of a Pvt. Ltd. Company claim sitting fee for attending meetings of the board?

Can directors be paid sitting fees for attending meetings of the shareholders?

C.A.A.K.Maitra

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ashutosh mishra (Expert) 20 May 2012
In view of the legal position, a Managing Director can be paid sitting fees for attending board meetings of the company.So would be also the case of other directors.

To ascertain it legally one needs to go though provisions contained in section 309 of the Companies Act, 1956 read with 198 of the said Act.

Suhail A.Siddiqui (Expert) 20 May 2012
Can ask director fee for his sitting.

Guest (Expert) 20 May 2012
You may need to get a board resolution passed to that effect, if not already incorporated in the MAA, or no resolution passed so far.

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