remuneration to MD

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aditi daga (Querist)
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19 May 2009 what is the maximum remuneration that a managing director can draw from 2 companies(appointment has been made under section 269)?

Ankur Garg

Ankur Garg (Expert)
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20 May 2009 Ceiling on remuneration from two companies:

Where a person who is a managerial person in more than one company , the total remuneration drawn from all these companies does not exceed the higher maximum admissible limit from any one of the companies of which he is a managerial person.

Revert if you are not able to understand.

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aditi daga

aditi daga (Querist)
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20 May 2009 But this is the case when managerial person is appointed as per Schedule XIII.
I have received Central Government's approval for one of the Companies stating that the maximum remuneration payable is Rs.5,00,000.

Ankur Garg

Ankur Garg (Expert)
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21 May 2009 I was expecting the same cross qus from u. Anyways plz tell me is there any thing mentioned in MD appointment resolution regarding remuneration package.

Further remuneration in one company is already limited by CG vide its approval.

aditi daga

aditi daga (Querist)
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23 May 2009 THANKS A LOT ANKUR

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