TMI BlogCompensation for loss of office of managing or whole-time director or managerX X X X Extracts X X X X X X X X Extracts X X X X ..... ctor, by way of compensation for loss of office, or as consideration for retirement from office or in connection with such loss or retirement. (2) No payment shall be made under sub-section (1) in the following cases, namely:- (a) where the director resigns from his office as a result of the reconstruction of the company, or of its amalgamation with any other body corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct of the affairs of the company or any subsidiary company or holding company thereof; and (f) where the director has instigated, or has taken part directly or indirectly in bringing about, the termination of his office. (3) Any payment made to a managing or whole-time director or manager in pursuance of sub-section (1) shall not exceed the remuneration which he would h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by them. (4) Nothing in this section shall be deemed to prohibit the payment to a managing or whole-time director, or manager, of any remuneration for services rendered by him to the company in any other capacity. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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