Please Help: Executive and non executive director.
Posted Date : 02-Jun-2014 , 05:49:02 pm | Posted By: NAROTTAM MAHESHWARI
Category :
Corporate Law | Answers :
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May I know from MCA site who is executive director and who is non-executive director of a Pvt. Ltd. Company. |
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| Posted By : NAROTTAM MAHESHWARI |
09-Jun-2014, 05:20:37 |
| I want to know that amongst directors, who is executive director and who is non-executive director of a pvt. ltd. co., may be seen from MCA site. If yes,how? |
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| Posted By : Vijeta Nathani |
06-Jun-2014, 03:01:06 |
| Whole-time Director or Executive Director includes a director in the whole-time employment of the company.
Independent director as per Clause 49 of the Listing agreement shall mean non-executive director of the company who— (a) apart from receiving director's remuneration, does not have any material pecuniary relationships or transactions with the company, its promoters, its directors, its senior management or its holding company, its subsidiaries and associates which may affect the independence of the director; (b) is not related to promoters or persons occupying management positions at the Board level or at one level below the Board; (c) has not been an executive of the company in the immediately preceding three financial years; (d) is not a partner or an executive or was not partner or an executive during the preceding three years, of any of the following:— (i) the statutory audit firm or the internal audit firm that is associated with the company; (ii) the legal firm(s) and consulting firm(s) that have a material association with the company. (e) is not a material supplier, service provider or customer or a lessor or lessee of the company which may effect the independence of the director; and (f) is not a substantial shareholder of the company, i.e. owning two percent or more of the block of voting shares.
IN SHORT,
migelito answered 8 years ago
An executive director is a member of the board of directors and an employee of the company. He/she will have a specific role such as finance director and as such be responsible for the day to day running of the company within his sphere.
A non executive director is a member of the board who is not an employee but appointed for his/her expertise and takes a part in decision making at board meetings. Sometimes non executive directors may get involved in such things as disciplinary hearings, especially for high ranking employees.
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