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gift to director by the Company

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(Querist)
21 May 2009 Company has made a gift of Rs.10000 in cash to all its directors,senior perssonnel and company secretary.
whether it is part of manegerial remuneration as per section 309 of the Companies Act, 1956!
what is the disclosure requirement and is there any Sanction of Board of directors in a meeeting of board is necessary or not?
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Sachidananda Nayak

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Sachidananda Nayak (Querist)
21 May 2009 what is the procedural formalities
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
22 July 2023 "Sorry, I am not a featured member."

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