Drafting aoa moa directors remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2016 Dear All,
We are in process of drafting AOA &
MOA for A pvt. Ltd. Companies as the sec 197 of companies act. Is not applicable to pvt. Company. In this scenario can we put the clause of Directors remuneration in AOA as much as the directors want. However directors seeking the remuneration of 3 Lakh PM,

Thanx & Redgs,

c.bakshi

c.bakshi (Expert)
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28 September 2016 NO, YOU CANNOT PUT A CLAUSE IN AOA WHICH IS INCONSISTENT WITH MOA OR COMPANIES ACT, 2013. HOWEVER, PVT COMPANY HAS TO COMPLY SCHEDULE V FOR REMUNERATION TO MD, WTD ETC

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2016 Yes schedule V is partly applicable to pvt. Company sir can you pls let me know as per schedule V how much maximun remunerations clause can i put in AOA

c.bakshi

c.bakshi (Expert)
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01 October 2016 within limit prescribed in the Schedule V. recently the same has been updated by MCA vide notification 12.09.2016. just go through it and on the applicable capital, you are allowed to limit the salary

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