Q & A

1760 Views 3 Ans

Can any one pls provide a draft format for appointment of a Whole Time Director and payment of remuneration under Schedule V of Companies Act,2013. Further a company to which the provisions of Sec 203 are not applicable is appointing a WTD , does it is mandatory for the company to designate that person as KMP also and cover that section in resolution for appointment of WTD? .

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Posted By: Kanika gupta 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.

Expert Ankit Singhi

No, it is not mandatory for such company and as per section 2(51) WTD automatically deemed to be a KMP.

Comment
Comment (0)

SUSHIL KUMAR ANTAL

Section 203 is applicable on listed co. and other public co. having a paid-up share capital of Rs. 10 cr. or more. Therefore, a company to which the provisions of Section 203 are not applicable, is not required to appoint WTD/MD/Manager/CEO/CFO. However, if a company wants to appoint WTD, it will comply section 196 which is applicable on both the company whether public co. or private co.Further it is not mandatory for the company to designate that person as KMP.

Comment
Comment (0)

SUSHIL KUMAR ANTAL

Comment
Comment (0)

Recently Active Member

Pramod Prabhudesai
B D Jokhakar & Co

Post Your Question

My Q&A

Experts

Ankit Singhi

Deepti Vohra

Popular Tags

DEPOSITS

DISCLOSURES IN MBP-1

Consolidation of accounts

AGM

Preferential basis allotment of shares

PRIVATE PLACEMENT

Amendment of Articles of Association

CLOSURE

Consolidation of Financial Statements and filing to ROC

CSR

View All

Topic

Implementation of new law

View All

Sections

Section 185- Loan to directors, etc.

Section 161- Appointment of additional director, alternate director and nominee director.

Section 205- Functions of the Company Secretary.

Section 3- Formation of company.

Section 173- Meetings of Board.

View All

About Q&A

Q & A is a unique platform to get your answers. You can create questions by topics or sections for easy identification of your query . You get various alerts to keep you connected and can also search your query.

So keep posting and stay connected

Companies Act 2013/1956

Decoding the New Act

Resource Center

My Section

Information Cafe

Calculators

Connect with us on facebook

Connect with us on Linkedin

Follow on Twitter

Payment Options Available

COPYRIGHT NOTICE: All information and material posted in this website (including but not limited to text, audio, video or graphical images), are subject to copyrights owned by Corporate Professionals eSolutions Private Limited, its affiliates and associates. Any reproduction, retransmission, republication, or other use of all or part of this document is expressly prohibited, unless prior permission has been granted by Corporate Professionals eSolutions Private Limited. All other rights reserved.

Scroll