Remuneration to whole time director

Dear All,

X Public Ltd.  closely held is paying remuneraiton to its whole time director arround 60 lacs in FY 13- 14 in following senario.

The co. has inccured a loss for the FY and the SR passed by shareholders expired on 31.03.13 and CG approval U/s. 269 expires. Now what I have to do for ractify the re-appointment of WTD. Can I pass a back dated SR. 

Under Schedule XIII - Part II-No profit - for public ltd it puts some procedure to be followed like remuneration comittee app..and disclosures ..gives restirction only for listed & its subsidary- No CG Approval.

But in 269 for app of wtd says if the sch-XIII is not complied and return not filled within 90 days CG approval is necessary. 

Pls clarify , share holders SR is enough or CG approval is requried. Also any changes in the new co. 2013

 

 

 

Replies (1)

In public forums like this, which is open to the whole  world including govt officials, we should  avoid  such questions. There can be no right way to do a wrong thing.  I will advise you to discuss this with some PCS in person.

 

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