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Remuneration of directors

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(Querist)
30 January 2013 Can any one tell me, if a unlisted Public Company want to reduce the remuneration of Directors which is going beyond the ceiling prescribed under section 198 and 309 then what is the compliance under companies act?
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CS Suraj Arora

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CS Suraj Arora (Expert)
30 January 2013 Dear Rakhi,


When a resolution is already passed by the Members of the Company for remuneration of director up to some extent then to reduce such remuneration;Resolution of Board of the Company is a sufficient Compliance which is again subject to contract if any, entered with that Director regarding remuneration .

But again for good Corporate governance I will Suggest to call a General meeting and pass an Ordinary resolution in this behalf.

Further Companies Act provides only for Increase in remuneration not for reduction of remuneration.

Thanks & with regards
Suraj Arora
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Rakhi

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Rakhi (Querist)
01 February 2013 thanks sir..
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