Hi,
If MD's age 70's above can be taking approval of central government or not and how to calculate the remuneration to Managing Director.
With Regards
Jaya
Ashish Gupta
(CS & Legal)
(114 Points)
Replied 05 July 2010
As per Part I of Schedule XIII, if the age of MD is above 70 years and the same has been approved by the Shareholders of the Company through a Special Resolution, Central Government approval is not required.
Regards,
Ashish
CA Amit Kumar Shrivastava
(CHARTERED ACCOUNTANT)
(104 Points)
Replied 05 July 2010
I am agree with Mr. Ashish, his ans. is in short & sufficient.
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