Managerial remuneration - Increase in director’s remuneration requires Government sanction ‑ Government’s approval is dispensed with in cases where the increase in remuneration.
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Managerial remuneration: increases compliant with prescribed Schedule terms require no government sanction and no fresh shareholder filings. Increase in managerial remuneration need not obtain Central Government sanction if it conforms to the terms in Part II read with Part III of Schedule XIII; where an earlier shareholders' resolution already covers the proposed increase or the comparable reduction requirement in Part III, no further resolution need be passed and no return need be filed with the Registrar of Companies.
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: increases compliant with prescribed Schedule terms require no government sanction and no fresh shareholder filings.
Increase in managerial remuneration need not obtain Central Government sanction if it conforms to the terms in Part II read with Part III of Schedule XIII; where an earlier shareholders' resolution already covers the proposed increase or the comparable reduction requirement in Part III, no further resolution need be passed and no return need be filed with the Registrar of Companies.
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