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Remuneration to directors
Can a public company having negative effective capital pay remuneration of Rs. 2 lacs to its two directors ?
If yes, is it compulsory to pass special resolution for the same?
Replies (1)
According to section 2 , psrt of 2 of schedule V of companies Act 2013, Where during the financial year , during the tenure of Director the Company has no profit or inadequate, it may without the approval of Central government pay remuneration to the Directors as per the conditions given below
where the effective capital is negative or less than 5 crore, compny can pay maximum 30 lakh of remuneration annualy to its Director. provided that above limit shall be doubled if resolution passed by shareholder is a special resolution.
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