Company law
This query is : Open
Payal Bafna
(Querist)
09 July 2015
1.IS IT POSSIBLE TO APPOINT A MANAGING DIRECTOR WITHOUT REMUNERATION ?
IF YES ,WHETHER APPROVAL OF CG IS REQD OR NOT?
2. WHAT IF PREVIOUSLY A MD IS APPOINTED WITH REMUNERATION BUT KNOW HE DON'T WANT TO TAKE ANY REMUNERATION ? WHAT TO DO THEN?
THANKS IN ADVANCE
IF YES ,WHETHER APPROVAL OF CG IS REQD OR NOT?
2. WHAT IF PREVIOUSLY A MD IS APPOINTED WITH REMUNERATION BUT KNOW HE DON'T WANT TO TAKE ANY REMUNERATION ? WHAT TO DO THEN?
THANKS IN ADVANCE
Ankur Garg
(Expert)
11 July 2015
Hi,
Managing Director can be appointed without remuneration by passing of board resolution. CG approval is not required.
KIndly refer section 196 and 197 for appointment and remuneration related provisions.
Thanks
Managing Director can be appointed without remuneration by passing of board resolution. CG approval is not required.
KIndly refer section 196 and 197 for appointment and remuneration related provisions.
Thanks
Ankur Garg
(Expert)
11 July 2015
I would request you to mention whether your company is public or private.
Further if MD do not want to take remuneration nothing is required to be done.
Thanks
Further if MD do not want to take remuneration nothing is required to be done.
Thanks
Payal Bafna
(Querist)
13 July 2015
IT'S A CASE OF A PUBLIC COMPANY ?
SIR WILL YOUR OPINION BE REMAIN SAME.
SIR WILL YOUR OPINION BE REMAIN SAME.
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