Managerial remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2013 Would reimbursement of EMI of car loan to NED constitute remuneration u/s 198 or 309 of The Companies Act

Ajay Mishra (Expert)
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27 September 2013 You can not pay any money other than sitting fee to its non executive directors.

Check your company's articles on it.

Ankur Garg (Expert)
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27 September 2013 Yes.

This payment will be considered as remuneration to NED.

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