Board Resolution to be filed for Change in Director's Remu.

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Devendra Tambe (Querist)

08 August 2008 We have Increase Director Remuneration from April 2008 by passing Board Resolution. Wheather Board Resolution need to filed with ROC. if Yes, then Please guide me for that

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

09 August 2008 If it is a private ltd company you can do so. But if it is a public ltd company, and you have already got the approval of the shareholders for a maximum limit and the increase is only within the limit you can do as stated by you. (No need to file the Board resolution with ROC). But if you are a public company and the proposed increase in remuneration is beyond the limit already approved by the shareholders, you will have to approach shareholders again.

Devendra Tambe

Devendra Tambe (Querist)

11 August 2008 If it is Private Limited, then Board Resolution need to be file with ROC. IF yes then Please guide me.

Devendra Tambe

Devendra Tambe (Querist)

12 August 2008 If it is Private Limited, then Board Resolution need to be file with ROC. IF yes then Please guide me.

Srinath A. N.

Srinath A. N. (Expert)

14 August 2008 In case of Private Company, there is no restriction on payment of remuneration, and you need not file resolution for payment of directors remuneration (However, please compaly with Section 314 in case you are paying director in some other capacity as Marketing Director, Executive Director.... etc).

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