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Limits for directors remuneration

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(Querist)
12 October 2009 Do the limits for managerial remuneration for direcotrs in Sec 198, Schedule XIII of the Companies Act, 1956 apply to the private company also?

Awaiting a quick reply.

Arvind
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Ankur Garg

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Ankur Garg (Expert)
12 October 2009 NO

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.

Regards
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Arvind S

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Arvind S (Querist)
12 October 2009 Thank You very much sir.

Arvind
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