Remuneration of whole-time director

Sir,

As per my understanding the WTD should refund back the salary received if refused by shareholders. Further CG can’t help it and cannot approve the same without the approval of shareholders.

RG

I Agree With Richank

WTD has just to vacate the office. He don't have to refund the salary as he has served to the company for 6months (Jan - June)

yes , i agree with Rakesh, he should not refund salary

As a good practice - the co. should held g.m. prior to the expiry of the terms of the services of such dir.

in your case if u hold g.m. before 31/12/11 and assuming the appointment fails i.e. members disapprove his appointment then the question of refund of salary does not arise.

more importantly -  what would happen to the decisions he would take, post dec'11 and prior to the g.m., for and on behlaf of the co. i.e. during the  period his appointment is in question ? - for all practical purpose he is not the director on those days. hence, it is not the question of remuneration only.

Thanks Friends for your kind gesture but I want some specific and law based remedy to my problem. Is there any case law or any example you can give me on above matter?

Thanks again.