In a family owned Business. -- unlisted public limited company. All directors are drawing salary as well as profit. How to pass resolution, as all are related parties. Taxation?
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Unlisted Public Company-Director salary
Replies (4)
Quick Summary
Pass a resolution in the board meeting ratifying the salary drawn
Sir,
All directors cum members are interested. Then no quorum of disinterested directors. How to proceed.
Jayanta
Hi please read 174(3) and 3 provisio of Sec 188, i hope it may clarify.
Here, all the directors and shareholders are from one small family and they exclusively Control other group cos & LLP. Everyone is interested. Then how to take call ? No disinterested shareholders. Even in case of cross holding, employee as Authorised representative of shareholding company is bound by employer's dictum. No neutral stand is available
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