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Payment of Managerial Remuneration A Unlisted Public Limited Company having no profit or inadequate profit want to appoint/re-appoint managing Director/WD and proposes to pay or revise remuneration which is less than Slab mentioned in Part (a) of section II of schedule V of companies Act, 2013. For Example (i) Effective capital is Negative or Less than 5 Crores and Limit under this slab is Rs. 30 Laks P.A.- In this case company propose to pay or revise remuneration of Rs. 25 Lacs P.A., So company need to pass ordinary Resolution. Please clearly that in this case is it compulsory for the company to approve the remuneration by Nomination and Remuneration committee ?

Remuneration to KMP

Posted By: Vasant patel 9 year(s) ago

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


Expert    Ankit Singhi

Special resolution is required and in case company has nomination and remuneration committee then its approval is also required. But there is small issue is regard the schedule at 2 place in same section provides the requirement of special resolution but in case it provides that if company passes the special resolution then it can double the limit. So there seems to be contrary provisions

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