Form 25C_Revision in Remuneration of Chairman

This query is : Resolved

G. Sushant (Querist)
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30 June 2010 I am finding dificulties in filing Form 25C in following case.

Director appointed on 02-05-08 (BM)& elected as Chairman on 14-07-08 (BM)on such a terms & conditions of remuneration. Now the Company is Ltd Co.

e.g. on 09-04-10 (BM) & on 05-05-10 (AGM) it was resolved to revise the terms of remuneration payable to Chairman.

In the Remuneration Agreement pls. note in brief following points:

1)Revision in remuneration w.e.f.05-05-10
2)He shall perform such duties assigned by BOD & as per MOA & AOA of the Co.
3)The appointment notwithstanding for the 5 yrs. w.e.f 14-07-08.

I have the following queries while filing Form 25C:

1)While filing F 25C, the designation would be WTD or not? (Point No 4 of the Form)
2)What will the effective date of appointment (Point No 5 & 6 of the Form)
3)Will the tenure of appointment for 5 yrs w.e.f. 14-07-08 or 05-05-10.(Point No 7(e)of the Form)

I request you to pls. also go through the Form 25C.

Experts Pls. clarify the same.

Thanks!

Jagruti (CS)

Jagruti (CS) (Expert)
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13 July 2010 Form 25 C will be required only if a director is executive. else no need to file it.

Effective date of appointment will be date which board stated in meeting i.e. resolution. if no date is stated than date of board meeting wil be date of appointment. In ur case it seems 14.07.08.

Tenuer of 5 years will depend on point 2 i.e. 14.07.08.

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