Board resolution
This query is : Resolved
20 July 2012
Provide the board resolution for authorising remuneration of non executive director.
23 July 2012
DRAFT RESOLUTION
“RESOLVED that pursuant to the provisions of Section 198, 309 and other applicable provisions, if any, of the Companies Act, 1956, and other applicable laws and subject to the approval of members in ensuing general meeting and such statutory approvals as may be necessary, approval be and is hereby accorded from financial year ending March 31, 2012, for a period not exceeding five financial years, the Non-Executive Director(s) of the Company on the Board, who are neither in the whole-time employment of the Company nor as Managing Director(s), in addition to the sitting fees for attending Meetings of the Board of Directors or any Committee thereof, be paid remuneration by way of Commission of an aggregate amount not exceeding ___% of the net profits of the Company, for each financial year or part thereof computed in the manner specified under Section 198 (1) of the Act to be divided among them who were on the Board of the Company at the end of respective financial year or in such manner as the Board of Directors deem fit.
RESOLVED FURTHER that Mr. _________Company Secretary of the Company be and is hereby authorised to do all acts, deeds, matters and such other things as may be considered necessary, expedient, usual, incidental or proper to do for carrying out the above resolution.”
“RESOLVED that pursuant to the provisions of Section 198, 309 and other applicable provisions, if any, of the Companies Act, 1956, and other applicable laws and subject to the approval of members in ensuing general meeting and such statutory approvals as may be necessary, approval be and is hereby accorded from financial year ending March 31, 2012, for a period not exceeding five financial years, the Non-Executive Director(s) of the Company on the Board, who are neither in the whole-time employment of the Company nor as Managing Director(s), in addition to the sitting fees for attending Meetings of the Board of Directors or any Committee thereof, be paid remuneration by way of Commission of an aggregate amount not exceeding ___% of the net profits of the Company, for each financial year or part thereof computed in the manner specified under Section 198 (1) of the Act to be divided among them who were on the Board of the Company at the end of respective financial year or in such manner as the Board of Directors deem fit.
RESOLVED FURTHER that Mr. _________Company Secretary of the Company be and is hereby authorised to do all acts, deeds, matters and such other things as may be considered necessary, expedient, usual, incidental or proper to do for carrying out the above resolution.”
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- CREDIT NOTES WITHOUT GST
- TDS Return Q1 FY 2026-27
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
