TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rules for appointing managing directors and paying directors: age, residency, disqualifications, and profit-based remuneration ceilings without approval</h1> Prescribes eligibility conditions for appointment of a managing director, whole-time director or manager without Central Government approval, including disqualification on conviction or detention under specified economic and regulatory laws, minimum age 21 and a general upper age limit of 70 (permitted beyond 70 by special resolution), and a residency requirement subject to stated explanations and SEZ exemption; compliance determines whether appointment can be made without further governmental approval in specified cases. Regulates managerial and certain non-executive/independent director remuneration, linking ceilings to company profits and, where profits are nil or inadequate, to effective capital with enhanced payment permitted by special resolution and subject to board/NRC approval, creditor-default safeguards, shareholder approvals, disclosures and certifications; it also excludes specified perquisites from ceiling computation and limits aggregate remuneration across two companies to the higher single-company maximum.
TaxTMI 
TaxTMI 
