Formalities - Increase in Managerial remuneration

[Adoni Raghavendra]

Let me know the formalities to be complied with, in connection to the increase in mangerial remuneratiom. Like specimen of special resolution/EOGM etc. etc..

[Surender Gupta]

No formalities are required. However, if specified in the AOA, in that case, you have to work according to the terms prescribed in AOA or amend the AOA as per prescribed procedure.

AI Summary

Managerial remuneration increase: comply with Articles of Association; amend articles formally if they prescribe conditions.
Increase in managerial remuneration generally requires no specific formalities; however, if the Articles of Association specify conditions or limits, the company must comply with those provisions or amend the Articles by following the prescribed procedure, commonly involving member approval such as a special resolution or an extraordinary general meeting.