Appointment of Managing Director

Amarendra Jena (Querist) 17 November 2010 This query is : Resolved
Dear Members,

Could any body guide me on the following issue ?
1. Mr.A is whole time employee(not Director)of company X Pvt ltd , who is getting salary from X Pvt Ltd
2.Company Y Pvt ltd, a subsidiary of public company(Not subsidiary of X Pvt Ltd)wants to appoint Mr.A as his managing Director without salary.

Is it possible or any violation of any Act ?
Please guide me.

Cs Amarendra
9505507591

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Khaleel Ahmed Mohammed (Expert) 23 November 2010
No body can be appointed as employee without salary. Where there is no salary there is no employment.

Amarendra Jena (Querist) 24 November 2010
Dear Ahmed,
There is no restriction in companies Act 1956 appointment of a person as managing Director(With out salary). so we can appoint him without salary.

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Appointment of Managing Director

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