Increase in remuneration of executive director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2012
Whether increase in remuneration of Executive director of Private Limited Company from Rs. 1L to 2L requires approval of General meeting also or Board approval be enough.
Thanks in anticipation.
Thanks in anticipation.
07 September 2012
Hi
No need of Government approval, because remuneration provisions of Companies Act, 1956 will not apply to private limited company. You are free to pay any amount to your directors. Board approval is sufficient.
Please check, what your company's says.
No need of Government approval, because remuneration provisions of Companies Act, 1956 will not apply to private limited company. You are free to pay any amount to your directors. Board approval is sufficient.
Please check, what your company's says.
Guest
Guest
(Expert)
08 September 2012
Board resolution will suffice. No need for shareholders approval.
Guest
Guest
(Expert)
08 September 2012
But if your director is MD then you will also have to file form 23 in addition to board resolution.
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