Resolution for Increase in remuneration of MD/ WTD

[amit trivedi]

Dear Members

Please provide me the resolution for Increase in remuneration of Managing  and/ or Whole time Director.

Only Remuneration will change and no other terms and conditions change.

Will it be Board resolution or Members Ordinary Resolution in EGM?

Thanking you

Amit

[suneel sahu]

pls follow the section 198 and 309 of the companies act-1956.

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[Company Secretery]

Ordinary resolution or board resolution depends upon whether referred company is private limited or public

Regards

Kalpana

[amit trivedi]

Its Unlisted public Company.

We paid remuneration to MD/ WTD, but only amount will increase w.e.f. 01.04.2013.

So I need Draft Resolution.

Thanking you

Amit 

[esha sharma]

Sec. 309 - Remuneration of Directors - Board Resolution
"RESOLVED that subject to the approval of the Company in General
Meeting and the approval of the Central Government, Shri. ..........,
the Managing Director of the Company, shall receive remuneration and
perquisites, as detailed hereunder, during the period of his
continuance in the office of the Managing Director, pursuant to
article ………. of the Articles of Association of the Company and
pursuant to the provisions of sections 198, 309(3) and/or other
applicable provisions of the Companies Act, 1956."


Members views solicited ,If needed any further alteration in the given
resolution.