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Urgent: increase in remuneration of director of pvt ltd comp

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 January 2013 Please reply as soon as possible

Remuneration of one of the director of pvt ltd company is increased from 580000 to 900000. what formalities or procedure i m suppose to follow?????????
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Ajay Mishra

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Ajay Mishra (Expert)
07 January 2013 Hi

Yes, it is possible.

Pass a Board Resolution and increase the same as you think.

The provisions of the Companies Act, 1956 not applicable to remuneration of directors of private limited company.

Check, your company's articles on director remuneration.
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