Directors' Remuneration as per Comapnies Act, 1956

This query is : Resolved

Ashish Soni (Querist)
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23 February 2010 Dear Sir,

Whether in a Public Company Four whole time Directors can be paid monthely remuneration of Rs. 2 lac, Rs. 1 lac, Rs. 1 lac, Rs. 50,000/- respectively, when company has net profit of Rs. 1.20 crore in the year 2008-09?

If yes, how ?

If no, suggest the ways available to give above remuneration ?

your prompt response awaited.

Thanks & Regards,

Ashish Soni
CS Final Student

Ankur Garg

Ankur Garg (Expert)
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23 February 2010 Considering the profit of 1 crore 20 lakh--this is a case of inadequate profit.

You have to fulfill the conditions of sch XIII. Calculate your effective capital to figure out the correct table of remuneration given in sch XIII.

Also constitute the remuneration committee to approve the above desired remuneration.

Regards

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