Refund of managerial remuneration?
This query is : Resolved
26 August 2011
Hi all,
If appointment of MD/WTD is disapproved or not approved by the share holders in the General Meeting or by the Central Govt.as the case may be,in such case is MD/WTD is liable to refund the managerial remuneration the company if he so received previously?
If appointment of MD/WTD is disapproved or not approved by the share holders in the General Meeting or by the Central Govt.as the case may be,in such case is MD/WTD is liable to refund the managerial remuneration the company if he so received previously?
27 August 2011
Yes he has to refund the managerial remuneration received from the company without permission.
Kindly refer section 309(5A) and (5B).
Kindly refer section 309(5A) and (5B).
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