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Payment to directors for loss of office requires disclosure and member approval, subject to statutory limits and default bars. Payments of compensation to a director in connection with transfer of an undertaking, property or shares require disclosure of specified particulars and approval by members at a general meeting; payments to managing directors, whole time directors or managers are subject to the limit under section 202; payments (other than notice pay and statutory payments) are barred where the company is in specified defaults; valuation of securities pending valuer rules is to be by an independent SEBI registered merchant banker or an independent chartered accountant with minimum ten years' experience.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Payment to directors for loss of office requires disclosure and member approval, subject to statutory limits and default bars.
Payments of compensation to a director in connection with transfer of an undertaking, property or shares require disclosure of specified particulars and approval by members at a general meeting; payments to managing directors, whole time directors or managers are subject to the limit under section 202; payments (other than notice pay and statutory payments) are barred where the company is in specified defaults; valuation of securities pending valuer rules is to be by an independent SEBI registered merchant banker or an independent chartered accountant with minimum ten years' experience.
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