Whether there is any provision of the companies act 2013 applicable to private companies for payment of remuneration to its directors or is it just governed by its articles? Also whether remuneration to be paid to the directors need to be approved by the shareholders or just a board resolution sufficient? Can someone please share a copy of the resolution?
2 Replies
Geetha Gupta
(Accountant)
(325 Points)
Replied 07 April 2016
Hi Everybody,
Can someone share the draft resolution for approving directors remuneration in a pvt company ?
As far as i know, Sec 197 and Sch V of companies act 2013 do not apply to private limite companies. But there is some confusion about the applicability of sch V if there are inadequate profits or no profits. Please clarify.
Regards,
Geetha
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