Company Secretary & Compliance Officer
17858 Points
Joined November 2008
In reference to your query, this is to inform you that as such in the discussed notification, wherein the limit of Rs. 50000 has been enhanced to Rs. 250000 per month, the changes were made only in the Director's Relatives (Office or place of Profit) Rules, 2003.
Therefore, any appointment of the relative may be made by only Special Resolution upto the salary of Rs. 2.5 Lacs per month.
However, in case of directors you may pay him professional fees. However, it would fall under section 314(1). In this regard you need to obtain Central Government Approval in case the remuneration exceeding Rs. 50000 per month. Otherwise only Special Resolution would suffice the purpose if the remuneration ranges within the limit of Rs. 50000 per month.
Such notification is also attached herewith for your ready reference.