Under Rule 10C(2) of the Companies (Central Governemnt's) General Rules and Forms, 1956 the limits specified is Rs. 20000/- for taking prior approval from shareholders and CG approval.
Whereas under Director's Relatives (Office or Place of profit) Rules, 2003 specifies a limit of Rs. 50000/- for taking CG approval.
Which limit should be considered?
If company want to pay remuneration of Rs. 20000/- do we need to take prior approval of Shareholders or subsequent approval as specified in sec. 314(1) be taken?
Thanks in advance
regards
Amit
CAclubindia
