Related to director's remuneration of Private limited co.

VISHAL KUMAR CHOUDHARY (Querist) 20 August 2010 This query is : Resolved
I wanted to know whether the approval of central govt.is required to pay director remuneration exceeding Rs. 50000 per month or other related provisions, the norms the private limited company has comply with for giving director remuneration or other benefits exceedingRs. 50000 per month.
moreover do inform whethre the same comply for Managing Directors.

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A V Vishal (Expert) 20 August 2010
No there is no requirement of approval of CG, further, there is no restriction on the remuneration payable to directors - Sec. 309 (9) of the Companies Act, 1956.