Director remuneration

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Dulal Chatterjee (Querist)
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09 August 2011 Hi,

1) What is the procedure of increase director remuneration? BM is sufficient or a letter to be issued to each director?

2) We have increased directors remuneration in April 2011, now we want to further increase of remunertion to one of the director.

Please advice me and provide the detail procedure with sample board resolution.

Regards,

Dulal Chatterjee

CS Bijoy

CS Bijoy (Expert)
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10 August 2011 If the remuneration increased is within the limit of Schedule XIII than Board Meeting is enough but in case it exceed Schedule XIII than approval from the Central Govt is required to obtain.

But in case increase in Fees per Meeting than no approval is required.