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    Remuneration of Managing Director

    Posted By : Damini / Published on : 06-Nov-2020 07:22 AM / View : 383 / Comment : 0

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    Dear Members,

    Kindly advise me regarding the below query :

    Can Managing Director voluntarily refuse to take salary for 5-6 months as there is no operation in the company (Private Limited) and facing heavy losses due to COVID - 19 pandemic though resolution passed at the time of appointment in shareholder’s meeting to pay the remuneration and perquisites.

    In this case only letter from Managing Director will be suffice or resolution need to be pass.

    Thank you in advance
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