In the case of a listed company where the profit & loss statement reflects a loss for FY 2022-23, and the company intends to provide remuneration of Rs. 48 lakhs in FY 2023-24 with a paid-up capital of Rs. 4 crores:
1. If the option of Part II of Schedule V, Section II is chosen, is approval from members required?
2. Which financial year's profit should be considered for calculating Section 197?
Could someone please assist in resolving these queries?