BINOD KUMAR SHAW (Accounts Assistant) (54 Points)
14 May 2008hallo everybody
is there any provision in companies act for mandatory payment of remmuneration to managing director or whole time director?
i mean is there any necesity to pay remuneration to managing director or whole time director?
pls suggest me at binodk_shaw @ yahoo.co.in its urgent.
thanking you
Nalin Ganatra
(Practising Company Secretary)
(26 Points)
Replied 14 May 2008
BINOD KUMAR SHAW
(Accounts Assistant)
(54 Points)
Replied 15 May 2008
What will be the procedure for cancelling the remuneration to MD?
i mean if the co. had earlier fixed the remuneration for MD but now the co. does not want to pay remuneration then what will be procedure?
MD's 5years service is not completed yet....
Nalin Ganatra
(Practising Company Secretary)
(26 Points)
Replied 15 May 2008
In that case Managing Director has to voluntarily agreed for not taking any remuneration and based on his written letter board of director has to pass the resolution for non payment of remuneration to M.D.
BINOD KUMAR SHAW
(Accounts Assistant)
(54 Points)
Replied 16 May 2008
Sir, thanks a lot for infomation
one more queries, what are the procedures to inform the Roc of such changes in remmuneration of MD.
thanking you
P.K. Shaw
(Asst. Company secretary)
(29 Points)
Replied 16 May 2008
As the M.D. has the substancial power and was appointed by the shareholders in their meeting by passing SR and thru an agreement between the Company nag the Md where the remuneration paid to MD was stated and a return uder eform 25C filed with the ROC. Now if a Company want to change the remuneration of Me, it has to take concent of its shareholder by passing SR and a written consent from the MD that he will not draw any remuneration from that Company and a eform 23 has to be filed with ROC.
| Originally posted by :BINOD KUMAR SHAW | ||
| " | hallo everybody is there any provision in companies act for mandatory payment of remmuneration to managing director or whole time director? i mean is there any necesity to pay remuneration to managing director or whole time director? pls suggest me at binodk_shaw @ yahoo.co.in its urgent. thanking you |
" |
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