11 February 2011
Sec 314(1)- monetary limits and approvals Remuneration up to Rs. 9,999 per month No approval [Sec 314(1)] Remuneration Rs.10,000-Rs. 19,999 per month Approval by special resolution [Sec 314(1) read with Rule 10C(1) of CGGRF] Remuneration Rs.20,000-Rs. 49,999 per month Prior approval by special resolution [Sec 314(1B) read with Rule 10C(2) of CGGRF] Remuneration => Rs.50,000 per month Prior approval by special resolution + Central Govt approval [Sec 314(1B) read with Rule 10C(2) of CGGRF and Rule 3 of Director's Relatives (Office or Place of Profit) Rules 2003 ]
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