Interested directors
This query is : Resolved
Chandan Gupta
(Querist)
09 May 2012
Dear Members...
For increase in remuneration of Managing Director of Public Company, the Board contains 5 directors out of which 3 are interested including Managing Directors.
How can we get approval of Board of Directors for such increment in remuneration.
Thanks…
For increase in remuneration of Managing Director of Public Company, the Board contains 5 directors out of which 3 are interested including Managing Directors.
How can we get approval of Board of Directors for such increment in remuneration.
Thanks…
Ajay Mishra
(Expert)
10 May 2012
Hi
The remuneration committee will approve the remuneration of MD which consist of independent directors. Otherwise it will be forwarded to shareholders for approval.
Regards
The remuneration committee will approve the remuneration of MD which consist of independent directors. Otherwise it will be forwarded to shareholders for approval.
Regards
Chandan Gupta
(Querist)
10 May 2012
thanks sir,
For increase in remuneration of Managing Director, apart from Remuneration Committee Approval the same matter is also required to be approved by the Board. Hence other two director being the son of MD are interested in the matter.
Now how can board paas the same resolution as from 5, 3 directors are interested.
For increase in remuneration of Managing Director, apart from Remuneration Committee Approval the same matter is also required to be approved by the Board. Hence other two director being the son of MD are interested in the matter.
Now how can board paas the same resolution as from 5, 3 directors are interested.
Ajay Mishra
(Expert)
10 May 2012
Hi
In that case, the resolution will be approved by shareholders.
In that case, the resolution will be approved by shareholders.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- ETDS return q4 25-26
- Royalty payments to the Mining Department for procurement of murum - GST input
- Capital gains in IT returns
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
