hi Friend

We have a problem in our group of comapnies in which a company  not earning any profit from last five year and showing a huge loss, but we are paying remuniration to one executive director other than WTD,MD and for this we did not take the appoval of shareholder. Pursuant to section 198 in which the limit of remuniration 1%,3% 5%,   10% and 11% given and in 198(4) in the case of loss or inedequate profit we cant pany any sum to the director including MD,WTD also without the permision of CG through form 25A or follow the provision of shedule XiII.

We appoint that director without follow the provision of the schedule XII because the paid up capital is 4 Crore, so in this case for the remuniration of director we need for the CG approval  or Follow the Provion of Schedule XIII .

 Please reply me immediately at devendercs@gmail.com

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