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Managerail Remuneration

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(Querist)
23 February 2011 Our co is pvt ltd co & also nbfc then what is procedure to increase directors/ md salary
whether it can be approved by Board or shareholders also required
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
23 February 2011 Please go through the Articles of association and act accordingly.

As per Companies Act maximum number of Director can be 12 and a Pvt Ltd Company can pay any amount to its director as a manegerial remuneration.
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ADITI BIDASARIA

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ADITI BIDASARIA (Expert)
24 February 2011 1.If you want to appoint an additional director, authorisation in Articles + Approval of Board is required and u can regularise them in AGM of the Company, Otherwise appoint the directors in the General Meeting of the Company.
2. There is no limit on the salary of the directors in pvt. ltd. company.
3. For the NBFCs Company,Information need to be sent to RBI in regard to change of directors within 30 days of change.
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