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Draft Resolution requrired

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(Querist)
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.
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Ankur Garg

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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
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