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(Querist)
23 July 2012 The Board of directors want to reduce the remuneration of director from Rs.1.50 Crs to Rs.1.00 Cr. Is the approval of members required in this case? Is there any section for reduction in the remuneration?
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
24 July 2012 The Consent of shareholders will be required in case part II of remuneration is applicable and;

If schedule XIII is applicable the permission of central government will also be sought.

Otherwise section 198, 309, 310 shall be complied with.
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