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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Managerial remuneration and appointment conditions: eligibility, capped pay, approvals and disclosure requirements under corporate law.</h1> Conditions for appointment of a managerial person impose fitandproper criteria (criminal and regulatory disqualifications, age limits, residency) and require shareholder approval. Remuneration rules set ceilings for profitable companies subject to section 197 and prescribe graded maximums where profits are inadequate, with higher limits for professionally qualified expatriate managerial persons and permissibility of excess pay by special resolution or where specified circumstances (newly incorporated, sick company, resolution plan) exist. Board and, where applicable, Nomination and Remuneration Committee approval, disclosure requirements in shareholder notices and board reports, auditor/secretary certification and prescribed perquisites excluded from ceiling are compulsory.
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