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Remuneration

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(Querist)
11 October 2012 Can a company pay remuneration to its managing director when its effective
capital is negative ?
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Ajay Mishra

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Ajay Mishra (Expert)
11 October 2012 Hi


Yes.

Section 198, 309 and Schedule XIII are not mutually exclusive. If the company have adequate profit then the company will paid remuneration under Section I of Part II of Schedule XIII and in case of inadequate profit the company will pay remuneration as per Section II of Part II of Schedule XIII.
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