Managerial remuneration
This query is : Open
RISHABH ARORA
(Querist)
18 February 2016
Can the Company pay remuneration to its Managing Director and Whole Time Director on availability of sufficient profit upto prescribed rates provided in the Section 197 of the Companies Act, 2013 on Net profit of the current year, even though the Central Government has fixed their remuneration for a particular period.
CS Divesh Goyal
(Expert)
28 February 2016
R u asking for government Company.?
As per 197 comapny can pay remuneration to MD & WTD as per limits mentioned in 197
As per 197 comapny can pay remuneration to MD & WTD as per limits mentioned in 197
RISHABH ARORA
(Querist)
29 February 2016
No its not a Government Company, Its a Listed Public Company
The Company has got approval of central government to pay remuneration to its Managing Director for 3(three) years, But in the next year the Company books profit that will enable company to pay remuneration as per the limits specified in section 197 of the Act.
Question is that can a Company pay remuneration to its MD beyond the limit approved by the Central Government.
The Company has got approval of central government to pay remuneration to its Managing Director for 3(three) years, But in the next year the Company books profit that will enable company to pay remuneration as per the limits specified in section 197 of the Act.
Question is that can a Company pay remuneration to its MD beyond the limit approved by the Central Government.
CS Divesh Goyal
(Expert)
29 February 2016
No Comapny cant pay remuneration beyond the limit approved by the Central Government.
CS Divesh Goyal
(Expert)
29 February 2016
No Comapny cant pay remuneration beyond the limit approved by the Central Government.
RISHABH ARORA
(Querist)
01 March 2016
But
PART II
REMUNERATION
Section I.— Remuneration payable by companies having profits:
Subject to the provisions of section 197, a company having profits in a financial year
may pay remuneration to a managerial person or persons not exceeding the limits specified in
such section.
PART II
REMUNERATION
Section I.— Remuneration payable by companies having profits:
Subject to the provisions of section 197, a company having profits in a financial year
may pay remuneration to a managerial person or persons not exceeding the limits specified in
such section.
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