With ref. to S.309(2) of the Co Act, 1956, it is the company's discretion whether to pay or not to pay remuneration by way of sitting fees to the directors for attending the meeting/s of Board or Committee.
Remuneration/sitting fees can either be paid in terms of AOA or by way of a resolution in the general meeting, as the case may be.
However, a director can renounce his right to remuneration and his renunciation will bind him.(McConnell's Claim Re, London and Northern Bank (1901)). Directors may also agree with each other to accept less remuneration/no remuneration in future than they are entitled to and such agreement is binding on the directors. However this waiver is revocable by the director/s at any time and director's normal remuneration will be payable to him/them after he/they notify the company about their intention to claim it in future.
To conclude, Director has right to renounce his remuneration/sitting fees but let him intimate his intention in writing and place the same in the Board Meeting for its noting.
The relevant Article of AOA can also be amended to provide for director's discretion to waive the receipt of remuneration ,partially or wholly.