urgent -resolution requirement

Dear Gargi

Yes u can change Salary of MD or any of the other Directors by just passing a Board Resolution and hav to file Form 23 with in 30 days with respective ROC (without add fee) after 30 days with add fee.

Preamble:

The Chairman placed before the Board a copy of agreement/proposal for increasing the remuneration / salary of M.D / Director (any). The Board Discussed the same matter and pass the following resolution.

Resolution:

RESOLVED THAT the Board give its consent for increasing remuneration of MD / Salary as per following Return

Basic Salary : 5 lakh/ months

Bonus : Equivalent of two Month Salary

Commission : 2% on N.P

Other Benefits : Car with Driver on Company Exp.

                               Flat, Telephone Bill will be incurred by Company, etc.

FURTHER RESOLVED THAT the above said remuneration is applicable from June 01, 2010 and will be paid by cheque to them.

FURTHER RESOLVED THAT Mr A, Director of the Company is being authorised to file Form 23 with respective ROC and Company will pay the fee prescribed by MCA."

Regards

Thanks a lot  Mr. Nitin for your prompt & detail answer.

Its My Pleasure Dear