Full & Final Settlement of Director

Querist : Anonymous (Querist) 31 October 2009 This query is : Resolved
Hi,

One of the Ltd. Company director retire from the post on personal ground. What legal benifit made his full and final settlement.

Thanks

(A.K.Roy)

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Raj Kumar Makkad (Expert) 31 October 2009
Plz go through rules of the company in this regard and any undertaking made with such retired director. Grant all benefits at least according to that and you are not restrained to provide more what ever company requires fi. No specific foundation is in existence in such matters.

A V Vishal (Expert) 31 October 2009
It depends largely on the terms of appointment of the said director. There can be no legal benefits except any remuneration due and PF if any to him.

adv. rajeev ( rajoo ) (Expert) 31 October 2009
I agree with the answers given by both the learned members.

Sachin Bhatia (Expert) 31 October 2009
It depends on the terms of appointment of the said director.

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