Raj (Director) 16 July 2011

Director Rights

Dear All,

I am promoter Director of a Pvt Ltd company and I am holding 1/3 of the shares.

Is it possible to work in a limited company as a salaried employee,while remaining

Director of the company.I am only withdrawing salary from the company I am working with.

Is it legal to work like this in companies act.

Please suggest..

Can cal me on 9650927738

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4 Replies

KAMARAJ BHARATHY G (ADVOCATE- HIGH COURT) 16 July 2011

I think the directors of a company can get share from the profit only. Once again I go through the sections of the Act and I inform you.

KAMARAJ BHARATHY G

Raj (Director) 17 July 2011

Thank you for your advice.But my question is,can a director of Pvt Ltd company work in other company as salaried employee.Is it legal??

Shivakumar (MANAGING DIRECTOR) 18 July 2011

I belive in any Private Limited , the Promoter will be eligable for salaries

hope you will get the right piture form the known sources

Shivakumar

Bijay Kumar (Company Secretary) 18 July 2011

Dear Mr. Raj,

your question was not clear. if you wish to draw remuneration from a Pvt. Co in which you are a director you can do so with approval of the board. there are no restrictions. only check that you are not related to any other director (Section 314 of Co's act ).

if you wish to draw salary from a public ltd co then you need to check up the limits available to you depending upon the net profits of the Company.

thanks regards

Bijay Kumar

9833629730