Query regarding remuneration of managing director in case of

Dear Pushkar,

You have not specified your Capital here.

Please also read: Provided that the company in general meeting may, with the approval of the Central Government, authorise the payment of remuneration exceeding eleven per cent. of the net profits of the company, subject to the provisions of Schedule V.

Please refer Section II of Part II of Sch V i.e Remuneration payable by companies having no profit or inadequate profit without Central Government approval.

Another way out is, Seeking CG Approval vide Form No. MR-2 [Rule 7 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014].

Hope your query is addressed.