Radhika (Company Secretary) (303 Points)
13 May 2016Friends,
An unlisted public company desires to revise (increase) its Whole-time Director's remuneration, within the limits.
Is it required to go for an Ordinary Resolution?
Or a Board Resolution will suffice?
Please suggest.
Thanq..
Jatin Bajaj
(CS)
(2930 Points)
Replied 13 May 2016
According to section 197 of the Companies Act 2013, if the Company wants to revise the remuneration of whole time Director, Company can do so by passing resolution in the General meeting.
Kamal Kumar
(B.Com)
(647 Points)
Replied 13 May 2016
Hi
you can view the respective Board Resolution, Notice of Extra-Ordinary General Meeting at the below link:
https://www.dokmart.com/documents/notice-of-extra-ordinary-general-meeting-1-item/info
The above link might useful for you and help you to understand the requirement.
Praveen Tawania
(Owner)
(369 Points)
Replied 13 May 2016
Yes, it is required to pass resolution is General Meeting for revision of your directors remuneration. As per section 197 of Companies Act,2013.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 May 2016
Ordinary Resolution is required to be passed, for alteration in the remuneration of WTD.
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