Director's remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2015 Sir/Madam
I have a company my wife and me are share holder and director. Now I want to increase both directors' remuneration. How can I pass this in a director as both are interested to this resolution. Please help me

Pratik Shah

Pratik Shah (Expert)
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17 August 2015 Yes, you can pass the resolution.
There are total two sections in the Act which restricts Interested parties to vote [section 184(2) and second proviso of Section 188(1)]

But pursuant to Notification dated 05th June, 2015, exemptions are given to Private Companies. And if you can see, both above mentioned provisions are exempted to Pvt Companies.

I hope this clarifies.

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Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2015 Is there any limit regarding director's remuneration

Pratik Shah

Pratik Shah (Expert)
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17 August 2015 If yours is private limited company, then there is no limit on Directors remuneration.
You can refer Section 197. It is applicable only to Public Companies.

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