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of <h1>Supreme Court Upholds 1969 Managerial Salary Guidelines, Resolving Pending Cases on Remuneration Caps in Companies.</h1> The circular addresses a Supreme Court decision regarding managerial remuneration in companies. Initially, administrative guidelines set in 1969 capped salaries at Rs. 7,500 per month, which were reduced to Rs. 5,000 in 1978. These guidelines were challenged by companies in court, leading to a Supreme Court decision. The Court ruled that managerial appointments and remunerations, as per shareholder resolutions, are deemed approved if they adhere to the 1969 guidelines. This decision resolved about a thousand pending applications, provided companies did not consent to the 1978 guidelines. Payments exceeding the 1978 limits are not considered excessive if they comply with the 1969 guidelines.
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