If the Executive Director of a Company wishes to revise the T&C of his appointment; whereas in the Annual Report it is written subject to T&C (such as medical reimbursement, leave travel allowance, gratuity etc) and shareholder's approval, how can he proceed? Do we need to hold an EGM or directly revise it in the AGM. Also the case says that the Remuneration Committee is authorised to revise salary by giving annual increment on (date) onwards evvery year.
Pl. help
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Remuneration
Replies (2)
- First prepare a detailed resolution covering all aspects (break up of remuneration etc) of director remuneration and get it approved from board of directors subject to the approvals of remuneration committee and shareholders.
- Hold a meeting of remuneration committee and get the proposal approved from remuneration committee subject to the approval of shareholders in GM
- Hold a general meeting and get the resolution approved from shareholders.
| Originally posted by : Zeel Shah | ||
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You can have the EGM and again pass the resolution with modified terms and conditions, if you can't wait till next AGM. |
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