GAUTAM SHARMA (Audit Assistant) 07 December 2013
No limit for Private Company in IT Act 1961 or Companies Act
CS Ankur Srivastava (Company Secretary & Compliance Officer) 07 December 2013
In case of private limited company the provisions of remunerations are not applicable. The Company may by way of board resolution fix any remuneration to its diretors.
CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) 08 December 2013
However, a company may/ may not file Form 23 to ROC by passing of resolution of payment of managerial remuneration in board meeting.
sharad (director) 09 December 2013
There is a confusion here.
Since Directors are inttd parties, & they r holding office of profit. So a special resolution in EOGM is better, which requires its own formalities & filing of resoln with the RoC.
Another opinion is that special resoln is NOT reqd for Whole Time Directors !
I seek clarification on the correct proceedure & relevant section / article / case law