Sitting fees for directors attending through video conferencing

SAPNA KANNAIDAS (Querist) 27 July 2011 This query is : Resolved
Dear friends,

Can anybody provide material or specific provision on sitting fees paid to directors attending board meeting through video conferencing?

Pls help.

Regards,
Sapna

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ajay sethi (Expert) 27 July 2011
1)a director participating in meeting of the board through video conferencing forms part of quorum for transacting business in that meeting .
2) Section 309 of the companies act limits the amount payable as sitting fees to maximum 20,000 per meeting
3)since sitting fees are paid to directors for participating in meetings it is immaterial as to whether they are physically present or participating through video conferencing.
4) payment of sitting fees should be made irrespective whether he has participated physically or through video conferncing