Change in directors remunaration
This query is : Resolved
26 June 2013
There are four Directors in a company to whom the company has been paying directors remuneration of say 2.5 lakhs each till last year.
Now from this year onwards i want to reduce/ not pay the directors remuneration to two directors.
what are the possible options/steps.
Now from this year onwards i want to reduce/ not pay the directors remuneration to two directors.
what are the possible options/steps.
26 June 2013
Pass a Resolution stating the reasons for the same, wherein you can mention that the Directors have opted to forego their remuneration
26 June 2013
Whether it is public limited company or private limited company.
28 June 2013
private limited company
28 June 2013
Yes, it is possible.
Pass a Board resolution and reduce the same.
The provisions of Companies Act, 1956 relating to director remunerations is not applicable to private limited company.
Pass a Board resolution and reduce the same.
The provisions of Companies Act, 1956 relating to director remunerations is not applicable to private limited company.
04 July 2013
Since i do not want to pay them any remuneration so should i change them from executive to non executive, since some remuneration will be required to be paid if i keep them executives. So do i need to file form 32 for changing them from executive to non executive.
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