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MD Remunaration

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 July 2010 In one of our client company, wrongly given excess remunaration to it's Managing Director for past three years and not made any compliance regarding this. What stps can we have to take in this situation ?

Can approval of only remunaration committee of the company is suffiecient for giving extra managerial remunaration to Managing Director or Whole time Director ?
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srinath

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srinath (Expert)
26 July 2010 no... it should be approved by share holders and if it above the prescribed limit then central govt approval is needed

else money should be returned to company by MD
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