Any body please clarify , what are restrictions asper Indian Companies Act for fixing remuneration to Chairman and board of directors , what are the legal formalities are to be ensured.
Thanks in Advance
Regards
P. Raja
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Remuneration to Chairman
Replies (1)
Please inform the status of your company i.e. is it a public or private company?
if your co. is a pvt. co. then in that case restriction on managerial remuneration not applicable.
If it is a public co. then relevant sections are 198, 309, 310 and 311 read with schedule XIII of companies act, 1956. Please go through these sections for more understanding.
Revert for further clarity. Regards
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