Remuneration limits may be fixed by government or company for managerial pay when profits are inadequate, guided by specified criteria. Where a company has inadequate or no profits, the Central Government or the company may, when granting approval for managerial appointment or remuneration, fix remuneration within statutory limits at an amount or proportion of profits it deems fit; in doing so it must regard the company's financial position, the individual's remuneration in other capacities and from other companies, the individual's professional qualifications and experience, and other prescribed matters.
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.
Remuneration limits may be fixed by government or company for managerial pay when profits are inadequate, guided by specified criteria.
Where a company has inadequate or no profits, the Central Government or the company may, when granting approval for managerial appointment or remuneration, fix remuneration within statutory limits at an amount or proportion of profits it deems fit; in doing so it must regard the company's financial position, the individual's remuneration in other capacities and from other companies, the individual's professional qualifications and experience, and other prescribed matters.
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