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If a company has only Husband and wife as Directors then we can not appoint their son as a CEO of the company as the Board is not able to pass the resolution (lack of disinterested quorum but can we appoint him as an executive Director on the Board and pay him remuneration for that?

Section 188- Related party transactions.

Posted By: Anita 10 year(s) ago

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Akansha

Yes, you can appoint him as an executive director in pursuant to section 188 with the consent of the Board in the meeting and not required to pass special resolution in the general meeting as remuneration is below Rs.2.5 lacs per month.

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Akansha

Please tell the remuneration which you intended to pay to executive director

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Anita

it will be below Rs.2.5 lacs per month

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