Dear all,
Please let me knoe that the maximum remuneration limit to a director u/s 314.
3 Replies
Rakesh Dhanuka
(Company Secretary)
(478 Points)
Replied 03 April 2013
For maximum remuneration limit to a director refer section 198, 309. Section 314 says if remuneration is more than Rs.50,000 but less than Rs. 2,50,000 board approval and special resolution is required to be passed in general meeting and if remuneration exceeds Rs. 2,50,000 then apart from above requirements C. Govt approval is also needed.
Others view solicited.
Nilav
(MT)
(23 Points)
Replied 03 April 2013
Sec 314 (1) says when remuneration exceeds 50,000 or more but less than Rs.2,50,000 then SR must be passed at GM only .Also it exludes certain person occupying offices MD,MANAGER,BANKER DEBENTURE TRUSTEES
sEC.314(1B) says when it exceeds 2,50,000 permission from CG in e form 24B is required.However the above
Sec 314(1) deals with Director of holding company or subsidiary company but not director of subsidiary to Holding company
Sec.314(1B) deals with appoinment in OPP only in companies and does not take into account subsidiary companies
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