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Directors remunerations

This query is : Resolved 
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(Querist)
01 March 2012 Dear Sir,

I have to make a payment of a Special Incentive to one of the Director(not a shareholder) of the company.
If the amount is exceeding the limits provided under Section I or Section II of part II of Sch XIII of the Companies Act, 1956.
Then what are the procedures to be followed for the payments of the same.
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Ajay Mishra

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Ajay Mishra (Expert)
01 March 2012 First of all you decide in which category you will fall.

If you exceeding all limit as specified in Schedule XIII then you should take Central Government approval along with share holders by passing Special Resolution.


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