Does the Companies Act regulate payment of remuneration and perks to CEO? If so, how?
Thanks
4 Replies
CA.Madhavan
(Chartered Accountant)
(942 Points)
Replied 31 March 2008
Yes ,every Public company has to fulfill conditions of section 198
and 309 of the companies Act 1956, while making REMUNERATION to
MD/CEO.......what ever name called.............
Its not applicable to Private comapny...As per Notification No GSR 235 dated 31.01.1978
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 25 May 2008
First of all you have to define CEO to see whether such a position attracts the provisions of Companies Act 1956. There is no CEO definition as per that Act
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