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Following an accounting fraud, Aura Ltd. restated its financial statements, reducing Rajesh's maximum eligible remuneration from Rs. 80 Lakhs to Rs. 50 Lakhs. Under the Companies Act 2013, what is Rajesh's statutory obligation regarding the excess remuneration received?
Rajesh must wait for the National Company Law Tribunal to issue a due order of debt recovery
Rajesh must retain the entire thirty lakhs of his remuneration if he acted in absolute good faith
Rajesh must refund the entire eighty lakhs of his remuneration and step away from the board
Rajesh must refund the excess thirty lakhs of his remuneration in two years, holding it in trust
Rajesh must refund the excess thirty lakhs of his remuneration in two years, holding it in trust
Practice and solve "Following an accounting fraud, Aura Ltd. restated its financial statements, reducing Rajesh's maximu..." for Part 5 Domain Knowledge - CIL MT Company Secretary 2026. The correct answer is Option D: Rajesh must refund the excess thirty lakhs of his remuneration in two years, holding it in trust. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
Practice and solve "Following an accounting fraud, Aura Ltd. restated its financial statements, reducing Rajesh's maximu..." for Part 5 Domain Knowledge - CIL MT Company Secretary 2026. The correct answer is Option D: Rajesh must refund the excess thirty lakhs of his remuneration in two years, holding it in trust. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
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