Please Help: procedure and forms for director want remuneration more than ceiling limit of companies act, 1956
Posted Date : 30-Mar-2012 , 05:52:39 pm | Posted By: ROHIT
Category :
Corporate Law | Answers :
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sir, there is a public company and its director want remuneration more than ceiling limit of companies act, 1956. i want to know the procedure and forms to be fill for it....
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Answers:
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 Answer by: CA Satuti Mahajan |
| Special resolution is required to be passed in an extra ordinary general meeting.
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| Answer by: CA Satuti Mahajan |
| Special resolution is required to be passed.
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| Answer by: Akanksha Handa |
| Director’s remuneration: Section 309(1) of the Act requires that the remuneration payable both to the executive as well as non-executive directors is required to be determined by the board in accordance with and subject to the provisions of section 198 either by the articles of the company or by resolution or if the articles so require, by a special resolution, passed by the company in a general meeting. Further, Schedule VI of the Act requires disclosure of Director’s remuneration and computation of net profits for that purpose
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