Respected All,
Mr. X, MD of a listed company is being appointed as the CEO of the company w.e.f 01.03.2011 on 21.03.2011. The company increases his remuneration and the resolution is passed by the BOD and the Remuneration Committee. Now my question is,
1. Whether shareholders approval will be required for the increase in his remuneration and can that be taken in the forth coming AGM?
2. Whether any supplemental agreement is required to be prepared? If yes, does that need to be filed with ROC.
As the matter is of utmost importance, your early response will be highly appreciated.
Thanks in anticipation.
Regards,
Priti
CAclubindia
