Director's remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2015
Sir/Madam
I have a company my wife and me are share holder and director. Now I want to increase both directors' remuneration. How can I pass this in a director as both are interested to this resolution. Please help me
I have a company my wife and me are share holder and director. Now I want to increase both directors' remuneration. How can I pass this in a director as both are interested to this resolution. Please help me
17 August 2015
Yes, you can pass the resolution.
There are total two sections in the Act which restricts Interested parties to vote [section 184(2) and second proviso of Section 188(1)]
But pursuant to Notification dated 05th June, 2015, exemptions are given to Private Companies. And if you can see, both above mentioned provisions are exempted to Pvt Companies.
I hope this clarifies.
There are total two sections in the Act which restricts Interested parties to vote [section 184(2) and second proviso of Section 188(1)]
But pursuant to Notification dated 05th June, 2015, exemptions are given to Private Companies. And if you can see, both above mentioned provisions are exempted to Pvt Companies.
I hope this clarifies.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2015
Is there any limit regarding director's remuneration
17 August 2015
If yours is private limited company, then there is no limit on Directors remuneration.
You can refer Section 197. It is applicable only to Public Companies.
You can refer Section 197. It is applicable only to Public Companies.
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