Central government power to fix executive remuneration when approving appointments, subject to company limits and specified evaluative factors. Central Government may, when granting statutory approval for an appointment or remuneration, fix the remuneration or a percentage of company profits within Act limits; in doing so it must consider the company's financial position, other remuneration or commissions drawn by the individual (including from other companies or as a sole selling agent), the individual's professional qualifications and experience, and public policy relating to removal of income disparities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Central government power to fix executive remuneration when approving appointments, subject to company limits and specified evaluative factors.
Central Government may, when granting statutory approval for an appointment or remuneration, fix the remuneration or a percentage of company profits within Act limits; in doing so it must consider the company's financial position, other remuneration or commissions drawn by the individual (including from other companies or as a sole selling agent), the individual's professional qualifications and experience, and public policy relating to removal of income disparities.
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