Dear Sirs

During the financial year 2010-11 a private limited company had paid monthly remuneration of Rs.15000/- to a relative of a director. The said remuneration was approved by the Board in March 2010. Approvoal of the Members of the Company was also obtained at the AGM held on 30.09.2010 by way of special resolution.

It is now proposed to increase the remuneration from Rs.15000/- to Rs.50000/-.

Kindly advise whether the company can pay Rs.50000/- as monthly remuneration to the relative of a director.

Kindly advise the procedures to be followed by the company in this regard

with regards

Muralidharan

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