Section 17(1) in The Companies (Meetings of Board and its Powers) Rules, 2014
(1)No director of a company shall receive any payment by way of compensation in connection with any event mentioned in sub-section (1) of section 191 unless the following particulars are disclosed to the members of the company and they pass a resolution at a general meeting approving the payment of such amount -(a)name of the director;(b)amount proposed to be paid;(c)event due to which compensation become payable;(d)date of Board meeting recommending such payment;(e)basis for the amount determined;(f)reason or justification for the payment;(g)manner of payment - whether payable in cash or otherwise and how;(h)sources of payment; and(i)any other relevant particulars as the Board may think fit.
