gift to director by the Company


This query is : Resolved 

21 May 2009 Company has made a gift of Rs.10000 in cash to all its directors,senior perssonnel and company secretary.
whether it is part of manegerial remuneration as per section 309 of the Companies Act, 1956!
what is the disclosure requirement and is there any Sanction of Board of directors in a meeeting of board is necessary or not?

21 May 2009 what is the procedural formalities

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