24 November 2008
As per section 309 of Co. Act, Remuneration payable to a Director shall be determined as per the provision mentoned in Sec.198 and if the Articles of the Co.requires so then it should be passed by a special resolution in the general meeting of the com.
As per section 198 the total managerial remuneration cannot exceed 11% of the net profits computed in the manned laid down in section 349.
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