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Revision of managerial remuneration of deputy md

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Guest (Querist)

24 September 2012 Dear Friends,

Regarding Revision of Managerial Remuneration of Deputy Managing Director.

Board approved the revision of MR of DMD of Public Unlisted Company. Thereafter, company filed the Form 23.

Should the company file Form 25C for the revision of MR of DMD ?

Ans : ……………………

Section 269(2) applies for appointment or re-appointment only.

I am not having clarity on the matter.

Kindly clarify my doubt with any reference / supporting so as to enable me understand the same.

Thanks in advance.

Ajay Mishra

Ajay Mishra (Expert)

24 September 2012 Hi

Yes, no need to file Form-25C, because it is a Return of Appointment.

Form-23 shall be filed with the concern ROC with in 30 days of the passing of Board Resolution varying the remuneration or making of agreement for variation.

The General Meeting shall be hold to pass an ordinary resolution for increasing the remuneration of managerial personnel.

Regards

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