Remunaration to directors of public co

Others 828 views 6 replies

Hi guys,

Can remunaration of directors in a public be increased from 11% with or without any approvals like Cg, CLB etc.?

please reply.

Thanks

CA Chandrakant Mundra

ck.mundra @ gmail.com

+91 9303050901

Replies (6)

Refer section 309 of the Companies Act, 1956.

@ Mundra, even if the company apply for excess remuneration in such case govt approval is always subject (overall limit of 11%).In you are case if the company request for excess remuneration i.e. more than 11% govt will not approve such request.

Note:-The provisions of Sec-198&309 is not applicable to Pvt.Ltd.Co.

No, Maximum limit is 11%.

Regadrs

Arun

 

Crossing the limit of 11% without the approval of CG is not possible.

Not only 11% but the individual limits given in section 309 are also very imp. For example crossing the limit of 5% in case of MD without CG approval is not possible.

 

RG

overall maximum remuneration to directors and manager 11%. this can be increased only with - a) company's resolution in a general meeting. b) approval of the central government.  sub limits also must get proper approval.

HOW CAN I GIVE MAXIMUM REMUNERATION TO THE DIRECTORS OF THE PUBLIC COMOANY WHWTHER IT IS PROFIT MAKING OR NOT


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