Directors remunerations

This query is : Resolved

Rakesh Kumar Singhal (Querist)
Follow

01 March 2012 Dear Sir,

I have to make a payment of a Special Incentive to one of the Director(not a shareholder) of the company.
If the amount is exceeding the limits provided under Section I or Section II of part II of Sch XIII of the Companies Act, 1956.
Then what are the procedures to be followed for the payments of the same.

Ajay Mishra

Ajay Mishra (Expert)
Follow

01 March 2012 First of all you decide in which category you will fall.

If you exceeding all limit as specified in Schedule XIII then you should take Central Government approval along with share holders by passing Special Resolution.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now