Minim sitting fee to directors of pvt ltd co.,

Querist : Anonymous (Querist) 18 November 2011 This query is : Resolved
1. HOW MANY MINIMUM NO. OF MEETINGS oF BOARD OF DIRECTORS TO BE HELD BY A PVT LTD.,CO.,apart from AGM to be held in a year.

2 What is the minimum sitting fee payable to a Director of Pvt ltd. company for attending a Board Meeting

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Sailesh Kumar Shah (Expert) 18 November 2011
1. Four meetings
2. Check AOA.

Rajeev Kumar (Expert) 18 November 2011
I agree with mr. Shah

prabhakar singh (Expert) 19 November 2011
I too agree with mr. Shah

Querist : Anonymous (Querist) 19 November 2011
as per company's act what is the minimum sitting fee payable to directors of a private limited company

Sailesh Kumar Shah (Expert) 19 November 2011
not exceeding the sum of ten thousand rupees subject to AOA.

Notification No. GSR 580(E), dated 24-7-2003, the government has increased the fees payable to directors of public companies and private companies which are subsidiaries of public companies for attending the Board meetings and Committee thereof w.e.f. 24-7-2003 as under:
(a) Companies with a paid-up share capital and free reserves of Rs. 10 crore and above or turnover of Rs. 50 crore and above shall be paid sitting fees not exceeding the sum of twenty thousand rupees; and
(b) Other companies shall pay sitting fees not exceeding the sum of ten thousand rupees.

Querist : Anonymous (Querist) 19 November 2011
Thanks but my question now is

What is minimum sitting fee payable to Directors of pvt ltd., co.. which are not a subsidiary of Public Company.

Sailesh Kumar Shah (Expert) 19 November 2011
please read again my answer.

prabhakar singh (Expert) 19 November 2011
Answer is there but you are not reading the same"(b) Other companies shall pay sitting fees not exceeding the sum of ten thousand rupees."

Devajyoti Barman (Expert) 22 November 2011
Yes I agree.

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