Draft Resolution requrired
This query is : Resolved
14 October 2009
Dear Sirs,
My questions are
1) whether the increase in director's remuneration of a Private Ltd. Company be made with retrospective effect by a board resolution? 2) is it necessary to have consent of share holders in any of the AGM?
3) is there any monetary limits / restriction in this matter.
4) i also need a format of resolution to be passed in such meetings to increase the directors remuneration with retrospective effect.
Thanks in advance.
My questions are
1) whether the increase in director's remuneration of a Private Ltd. Company be made with retrospective effect by a board resolution? 2) is it necessary to have consent of share holders in any of the AGM?
3) is there any monetary limits / restriction in this matter.
4) i also need a format of resolution to be passed in such meetings to increase the directors remuneration with retrospective effect.
Thanks in advance.
Ankur Garg
(Expert)
15 October 2009
The strict limits of Managerial Remuneration u/s 198,309 and Schedule XIII which are applicable to a public company are not applicable to a private company.
In private company Managerial Remuneration provisions are mostly governed by Article of the company.
1. Increase in director's remuneration of a Private Ltd. Company retrospective effect is possible.
2. There are no monetary limits / restriction in this matter except provisions of your articles of association.
Regards
In private company Managerial Remuneration provisions are mostly governed by Article of the company.
1. Increase in director's remuneration of a Private Ltd. Company retrospective effect is possible.
2. There are no monetary limits / restriction in this matter except provisions of your articles of association.
Regards
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