Exemption from Central approval for managerial remuneration and introduction of deposits linked tiered loan ceilings for nidhis. Notifications treat companies declared as nidhis or mutual benefit societies as member focused entities and (1) exempt them from Central Government approval for managerial remuneration where prescribed conditions are met; and (2) replace a uniform single borrower loan cap with a tiered, deposits linked ceiling structure prescribing multiple slabs for maximum advances to any one borrower.
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.
Exemption from Central approval for managerial remuneration and introduction of deposits linked tiered loan ceilings for nidhis.
Notifications treat companies declared as nidhis or mutual benefit societies as member focused entities and (1) exempt them from Central Government approval for managerial remuneration where prescribed conditions are met; and (2) replace a uniform single borrower loan cap with a tiered, deposits linked ceiling structure prescribing multiple slabs for maximum advances to any one borrower.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
