Company law

This query is : Open

Payal Bafna (Querist)
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09 July 2015 1.IS IT POSSIBLE TO APPOINT A MANAGING DIRECTOR WITHOUT REMUNERATION ?
IF YES ,WHETHER APPROVAL OF CG IS REQD OR NOT?
2. WHAT IF PREVIOUSLY A MD IS APPOINTED WITH REMUNERATION BUT KNOW HE DON'T WANT TO TAKE ANY REMUNERATION ? WHAT TO DO THEN?

THANKS IN ADVANCE

Ankur Garg

Ankur Garg (Expert)
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11 July 2015 Hi,

Managing Director can be appointed without remuneration by passing of board resolution. CG approval is not required.

KIndly refer section 196 and 197 for appointment and remuneration related provisions.

Thanks

Ankur Garg

Ankur Garg (Expert)
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11 July 2015 I would request you to mention whether your company is public or private.

Further if MD do not want to take remuneration nothing is required to be done.

Thanks