Managerial remuneration in excess of companies act, 2013

sudharshan reddy (CA ) (42 Points)

13 December 2017  

Hello,

Hope everyone doing well and have a nice day!

In Xltd., ( "the Company") has paid in excess of Schedule V (since the comaony has losses) speciifed limits without taking any apporval from shareholders and or central government permission (if applicable).

 

Now the question is:

Q1. Can the company pay in excess of Companies Act, 2013 ?

Q2. if yes, Since the company has not obtained shareholders approval , can they ratufy the same in the upcoming AGM / SGM?

Note: AOA doesn't speak anything

Please quote the relevant sections of Comapnies Act, 2013 while answering those questions.