Payment of sitting fees
This query is : Resolved
CA JATIN TALREJA
(Querist)
07 June 2014
We want to pay sitting fees for board meetings to directors Rs.2000/- per meeting .However articles of association mentions the remuneration for every meeting not exceeding Rs.250/-.Can we pay the sitting fees by simply a board resolution or the limit in articles need to be increased first?
07 June 2014
You need to alter the clauses in articles of association first. Then only the revised sitting fees can be paid.
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