Managerial Remuneration
This query is : Resolved
Archit Melana
(Querist)
24 January 2018
In case of inadequate profit, max remuneration limit is for one director or for all directors?? plz explain
CS Peer mehboob
(Expert)
25 January 2018
If company is a private company then there is no limit of remuneration to its directors. However, if company is a public company, pls refer sec.197 and Schedule V. As per this schedule, if company is having inadequate profit then company may give remuneration as per thier effective capital, not exceeding 60 lacs, 84 lacs, 120 lacs as given in the table mentioned in the schedule V. However, if the public company desire to give more than the limit prescribed in the said table, it has to get the same approved by shareholders by passing special resolution.
25 January 2018
Maximum limit is per person. Inference - Schedule V part II (A) and (B).
Archit Melana
(Querist)
25 January 2018
that means per person limit is 60/84/120 lacs??
CS Peer mehboob
(Expert)
25 January 2018
Yes, the limit in table of Schedule V for the companies having inadequate profit is for A managerial person means per person.
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