Whether the receipt of sitting fee for attending the board meeting by an Independent Director from a company would be considered as having pecuniary interest while considering his appointment in the holding company, subs

The term "Pecuniary relationship" as provided in section 149(6)(c) of the Companies Act, 2013 does not include receipt of remuneration, from one or more companies, by way of fee provided under sub-section (5) of section 197, reimbursement of expenses for participation in the Board and other meetings and profit related commission approved by the members, in accordance with the provisions of the Act. Hence, receipt of sitting fees would not be considered as pecuniary interest while considering his appointment in the holding company, subsidiary company or associate company of such company.