by reading sec. 198, 269, 309-311 and sch. XIII, I understand that :
The salry to the MD shall be - firstly in accordance with sec. 198. If it is found less than resort to sch. XIII and pay as per the slabs.
However, if the desired salary is still found to be less then define a salary by passing a sp. resolution in the GM with his reappointment, specify the payment details and apply to the C.Gov. thru form 25A. - ref.269,309,310,311
Is this correct?
Further if the MD is over 70 yrs. now and is to be reappointed in the ensuing AGM- the sp. resolution should indicate his age or will it be ok if it is mentioned in the explanatory stat. to the resolution.- what should be mentioned in either case? I have not come across such resolution/ expl. stat.
Request to share GM resolution for the re-appointment of MD.
experts are requested to reply urgently.
CAclubindia
