Prohibition on directors holding office of profit: entitlement based remuneration does not convert position into office of profit. The prohibition on a director holding an office or place of profit depends on whether the director receives remuneration over and above the pay to which he is entitled as a managing or whole time director; remuneration that is the director's entitled pay does not make the position an office or place of profit for the prohibition to apply.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prohibition on directors holding office of profit: entitlement based remuneration does not convert position into office of profit.
The prohibition on a director holding an office or place of profit depends on whether the director receives remuneration over and above the pay to which he is entitled as a managing or whole time director; remuneration that is the director's entitled pay does not make the position an office or place of profit for the prohibition to apply.
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