Hello everybody,
A small company, where all are related to each other and are members as well as directors, has not got the remuneration paid to the directors approved in the AGM for the past years, eversince Secretarial Standards came into force. Even the remuneration paid for FY 2019-20 needs to be approved. All the increases and decreases were reported in the Board meetings and in Form AOC-2 every year.
Can a ordinary resolution be passed to approve the same? If so can someone suggest a resolution
Further, as a rule, for the future, can remuneration paid during a FY be approved in the following AGM, since it difficult to forecast profits for the company?
Thanks in advance and Regards,
Geetha Gupta
CAclubindia
