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of <h1>Companies Act 1956 Amended: New Limits for Director Remuneration, Special Resolution Required for Rs. 10,000+ Roles.</h1> The circular addresses amendments to the Companies Act, 1956, specifically regarding the appointment of directors or their associates to positions of profit within a company. Previously, a special resolution was required if the monthly remuneration was Rs. 6,000 or more, and both a special resolution and Central Government approval were necessary for Rs. 12,000 or more. The revised limits, effective from March 1, 1994, now require a special resolution for Rs. 10,000 or more, and both a special resolution and government approval for Rs. 20,000 or more, reflecting liberalized policies on managerial appointments and remuneration.
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