12 October 2009
Do the limits for managerial remuneration for direcotrs in Sec 198, Schedule XIII of the Companies Act, 1956 apply to the private company also?
The strict limits of Managerial Remuneration u/s 198,309 and Schedule XIII which are applicable to a public company are not applicable to a private company. In private company Managerial Remuneration provisions are mostly governed by Article of the company.
CAclubindia
