Directors remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Whole time Directors of a private ltd. company intend increase their remuneration to Rs. 600000.00 per annum from Rs. 300000 lakhs per annum. The profit of the company is varies from 5to 6 lakhs after charging directors remuneration of Rs. 900000.00 for three directors.Whether there is any restriction or limitation to this as per the provisions of Companies Act 2013 ?
Whether the resolution to this effect has to be filed with ROC in MGT14
Whether the resolution to this effect has to be filed with ROC in MGT14
CS Mitesh Mehta
(Expert)
21 November 2014
Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration. It is applicable to public company.
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