https://www.taxtmi.com/caselaws?id=98499 Directors of a private company governed by Table A under the Indian Companies Act, 1913 could not recover remuneration or allowances without approval by the company in general meeting. Table A reserved determination of directors' remuneration to the general meeting, and board management powers did not override that reservation. The Companies Act, 1956 did not remove this requirement for an existing private company: the saving provision continued the applicable Table A regulations, while board powers remained subject to matters reserved for the general meeting. Payments described as salary or expenses were treated as remuneration in substance. The directors' claims were therefore unsustainable and their rejection was upheld. en-us Sat, 21 Oct 1967 00:00:00 +0530 Fri, 20 Jan 2012 18:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98499 Directors of a private company governed by Table A under the Indian Companies Act, 1913 could not recover remuneration or allowances without approval by the company in general meeting. Table A reserved determination of directors' remuneration to the general meeting, and board management powers did not override that reservation. The Companies Act, 1956 did not remove this requirement for an existing private company: the saving provision continued the applicable Table A regulations, while board powers remained subject to matters reserved for the general meeting. Payments described as salary or expenses were treated as remuneration in substance. The directors' claims were therefore unsustainable and their rejection was upheld. Case-Laws Companies Law Sat, 21 Oct 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98499