Sourav Chatterjee (Management Trainee) (171 Points)
26 June 2012We are an unlisted public company. Our effective capital for the F.Y. 2010-11 is negative, as calculated for the purpose of payment of remuneration to a Managerial Personnel.
As per Schedule XIII we should refer to clause (C) of Section II of Part II, for determining the payment of remuneration to a Manangerial Personnel when the effective capital of the Co. is negative.
My question is what is the maximum remuneration that can be paid to a Managerial Personnel in our case?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 26 June 2012
You can pay Rs. 150000 p.m. to each managerial personnal.
Because the words given are Less than 1 Crores.
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