Friends,
An unlisted public company desires to revise (increase) its Whole-time Director's remuneration, within the limits.
Is it required to go for an Ordinary Resolution?
Or a Board Resolution will suffice?
Please suggest.
Thanq..
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Revision of remuneration of whole time director
Replies (4)
According to section 197 of the Companies Act 2013, if the Company wants to revise the remuneration of whole time Director, Company can do so by passing resolution in the General meeting.
Hi
you can view the respective Board Resolution, Notice of Extra-Ordinary General Meeting at the below link:
https://www.dokmart.com/documents/notice-of-extra-ordinary-general-meeting-1-item/info
https://www.dokmart.com/documents/board-resolution-increase-in-managerial-remuneration-in-case-of-inadequate-or-no-profit/info
The above link might useful for you and help you to understand the requirement.
Yes, it is required to pass resolution is General Meeting for revision of your directors remuneration. As per section 197 of Companies Act,2013.
Ordinary Resolution is required to be passed, for alteration in the remuneration of WTD.
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