1. PAYMENT OF PERQUISITES TO A DIRECTOR OF A LIMITED COMPANY
Does Perquisites to a director form a part of Directors remuneration u/s 310 and 198.....and if yes....do member (EGM) meeting is necessary in a limited company to fix peruisites of a director.....
NEERAJ KHAITAN
neerajkhaitan @ yahoo.com
Dear Neeraj,
yes, perquisite form a part of remuneration.
Appointment and remuneration require the approval of shareholders by resolution. Therefore EGM is required.
Schedule XIII of companies act is applicable in ur case. Kindly read Part III of Sch XIII of companies act.
Also if the directors remuneration is decided already in GM and u jst wanna knw any changes in perquisites or allowing any perquisites then you have to refer to the resolution passed for the first time deciding the remuneration. If that resolution provide a right to the BOD or Remuneration Committee to make changes in remuneration without any further approval of Shareholders then no EGM will be needed.
Correct me if I am wrong....
Regards,
Shridhi
thanx shridhi for the above clarification..
CCI
Pro
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