format of minutes of remuneration committee.
gayatri rajgaur
Rajesh Gupta
fyi....
MINUTES OF THE MEETING OF THE MEMBERS OF REMUNERATION COMMITTEE OF _____________________________ HELD ON SATURDAY THE 10TH JULY 2010 AT 10.00 A.M. AT THE REGISTERED OFFICE OF THE COMPANY AT _______________________________________
Members of the Remuneration Committee Present:
1) _________________
2) ___________________
______________, Chairman of the Remuneration Committee took the chair and commenced the proceedings of the meeting.
1. Approval of Remuneration payable towards re-appointment of __________________________ as Managing Director
Chairman informed the members of the Committee that the Board of Directors of the Company recommended for the appointment of ___________________as Managing Director of the Company and as per Schedule XIII to the Companies Act, 1956 and the remuneration which shall be paid to such Director shall be approved by the Remuneration Committee of the Company.
Chairman further informed that the Board of Directors recommended a consolidated remuneration (inclusive of salary, perquisites and etc.) of Rs.8.00 Lakhs per annum.
The Members discussed the same and arrived at a conclusion that looking into the present scenario of the Company the payment of so much of the remuneration as recommended by the Board of Directors of the Company is reasonable and thereafter passed the following resolution:
“RESOLVED THAT pursuant to the provisions of Sections 198, 309 and 310 read with Schedule XIII and other applicable provisions, if any, of the Companies Act, 1956 consent of the members be and is hereby accorded to pay consolidated remuneration of Rs. 8,00,000/-(Rupees Eight Lakh only) per annum (inclusive of salaries, perquisites etc.,) for a period of 3 years w.e.f.14th May, 2010 to ________________________________on his proposed re-appointment as Managing Director of the Company.
“RESOLVED FURTHER THAT Rs 8,00,000 p.a. shall be paid and allowed as a minimum remuneration during the currency of tenure of his office as Managing Director, notwithstanding the absence or inadequacy of profits in any accounting year as long as the remuneration is within the prescribed limits under Section II of Part II of Schedule XIII of the Companies Act, 1956.”
Vote of Thanks
There being no other business to be transacted thereat, the meeting was concluded with vote of thanks to the chair.
Place: Hyderabad
Date: __________ CHAIRMAN
Regards,
Raj
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