Query:
In a Public Company (Listed Company), under section 196 of the Compnies Act, 2013 we have appointed Managing Director of the Company by passing a Board resolution subject to the approval of shareholders at the next general meeting.
And, now the Company wants to pay remuneration to that Managing Director. But since the appointment has not been approved by the shareholders so can we pass again another Board resolution for the remuneration of Managing Director even though the resolution for his appointment has not been approved by the shareholders.
Regards
Shilpa
CAclubindia
