Managerial remuneration: companies may set pay within statutory limits for low-profit firms, considering financial position and qualifications. Section 200 permits a company, when approving an appointment or remuneration in cases of inadequate or no profits, to fix managerial remuneration within the Act's prescribed limits at such amount or percentage of profits as it deems fit, having regard to the company's financial position, remuneration drawn by the individual in other capacities or 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.
Managerial remuneration: companies may set pay within statutory limits for low-profit firms, considering financial position and qualifications.
Section 200 permits a company, when approving an appointment or remuneration in cases of inadequate or no profits, to fix managerial remuneration within the Act's prescribed limits at such amount or percentage of profits as it deems fit, having regard to the company's financial position, remuneration drawn by the individual in other capacities or from other companies, the individual's professional qualifications and experience, and other prescribed matters.
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