Hi all,
Can anyone tell me whether CG approval is necesaary for giving remunneration to the relative of Director between the range of Rs. 20,000/- to Rs. 50,000/- and can the prior approval of Members is necesaary or the subsequent approval will do.
Plz gide me on the same.
Regards,
Prasad Keluskar
Hi,
Your case is governed by section 314(1B). No need to collect CG approval as long as remuneration is below 50,000. But under section 314(1B) you have to go for prior approval of share holders.
Views of other members solicited.
Regards
KK & Company Chartered Accountant
Pune
CA Inter
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