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Managerial Remuneration

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 February 2011 What is the procedure to be adopted when the remuneration of a Manager exceeds the limit at a later point of time, say one year? Should EGM be convened, forms 23 and 25C be filed again ?
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
17 February 2011 According to me, if there is no change in the remuneration already approved by the shareholders but the limit is crossed due to low profitability, etc. then CG approval is sufficient. The shareholders approval previously obtained may be attached to form 25A.

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