18 February 2016
Can the Company pay remuneration to its Managing Director and Whole Time Director on availability of sufficient profit upto prescribed rates provided in the Section 197 of the Companies Act, 2013 on Net profit of the current year, even though the Central Government has fixed their remuneration for a particular period.
29 February 2016
No its not a Government Company, Its a Listed Public Company The Company has got approval of central government to pay remuneration to its Managing Director for 3(three) years, But in the next year the Company books profit that will enable company to pay remuneration as per the limits specified in section 197 of the Act.
Question is that can a Company pay remuneration to its MD beyond the limit approved by the Central Government.
01 March 2016
But PART II REMUNERATION Section I.— Remuneration payable by companies having profits: Subject to the provisions of section 197, a company having profits in a financial year may pay remuneration to a managerial person or persons not exceeding the limits specified in such section.
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