Hi all,
If the appointment of MD/WTD is disapproved or not approved by the share holders in the General Meeting or by the Central Govt.as the case may be,in such case is MD/WTD is liable to refund the managerial remuneration to the company if he so received previously?
Yes he has to refund the managerial remuneration received from the company without permission.
Kindly refer section 309(5A) and (5B).
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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Triveni Turbine Limited
Bengaluru
CA
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CAclubindia
