increase in director remuneration
This query is : Resolved
arti jindal
(Querist)
27 November 2007
can anyone tell me, what is requiremnts as per companies act? if a pvt ltd company increase the remuneration of its Managing director.
whether there is a requirment of any form filing with ROC ?
whether there is a requirment of any form filing with ROC ?
CA. Vineet Grover
(Expert)
27 November 2007
Hi Arti,
For increase in the remuneration of Directors - Wholetime / Managing Director, intimation need to be given to the ROC in Form 25C. Kindly visit the website www.mca.gov.in to download the requisite form.
Rgds/
Vineet
For increase in the remuneration of Directors - Wholetime / Managing Director, intimation need to be given to the ROC in Form 25C. Kindly visit the website www.mca.gov.in to download the requisite form.
Rgds/
Vineet
CA. Vineet Grover
(Expert)
27 November 2007
Hi Arti,
Please note that the requirement of filing of Form 25C with ROC is applicable for public limited companies.
Please note that the requirement of filing of Form 25C with ROC is applicable for public limited companies.
27 November 2007
SUB SECTION 2 OF SECTION 269 OF THE COMPANY'S ACT SAYS IT VERY CLEARLY THAT ONLY A PUBLIC LTD. COMPANY OR PVT.LTD. COMPANY WHICH IS A SUBSIDIARY OF A PUBLIC LTD. COMPANY NEEDS TO COMPLY WITH THE REQUIREMENTS OF SCHEDULE XIII AND FILING FORM 25 C.
SO NEED FOR A PVT.LTD. COMPANY ( UNLESS IT IS THE SUBSIDIARY OF A PUBLIC LTD. CO) TO FILE FORM 25 C.
AS FOR INCREASE IN REMUNERATION OF MANAGING DIRECTOR AGAIN SEC 198, SEC.309,
SEC 310 AND SEC 311 AND SCHEDULE XIII OF THE COMPANY'S ACT RELATING TO REQUIREMENTS AND RESTRICTIONS ON INCREASE IN MANAGERIAL REMUNERATION DO NOT APPLY TO PVT. LTD. COMPANIES UNLESS THEY ARE SUBSIDIARIES OF A PUBLC LTD.COMPANY.
SO YOU CAN JOLLY WELL INCREASE THE REMUNERATION OF YOUR M.D .
R.V.RAO
SO NEED FOR A PVT.LTD. COMPANY ( UNLESS IT IS THE SUBSIDIARY OF A PUBLIC LTD. CO) TO FILE FORM 25 C.
AS FOR INCREASE IN REMUNERATION OF MANAGING DIRECTOR AGAIN SEC 198, SEC.309,
SEC 310 AND SEC 311 AND SCHEDULE XIII OF THE COMPANY'S ACT RELATING TO REQUIREMENTS AND RESTRICTIONS ON INCREASE IN MANAGERIAL REMUNERATION DO NOT APPLY TO PVT. LTD. COMPANIES UNLESS THEY ARE SUBSIDIARIES OF A PUBLC LTD.COMPANY.
SO YOU CAN JOLLY WELL INCREASE THE REMUNERATION OF YOUR M.D .
R.V.RAO
27 November 2007
SO NO NEED FOR A PVT.LTD. COMPANY ( UNLESS IT IS THE SUBSIDIARY OF A PUBLIC LTD. CO) TO FILE FORM 25 C.
R.V.RAO
R.V.RAO
arti jindal
(Querist)
27 November 2007
thanks for your reply. as i my self belive this, that this sections apply only on ltd company not on pvt ltd co.
28 November 2007
Arti,
To any company these section will apply, the formalities for ltd are extensive, but this is also applicable to pve companies
To any company these section will apply, the formalities for ltd are extensive, but this is also applicable to pve companies
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