<h1>India Eases Pay Restrictions for Managerial Personnel in Companies with Low Profits under Amended Schedule XIII of Companies Act.</h1> The Ministry of Corporate Affairs in India has amended Schedule XIII of the Companies Act, 1956, effective from July 14, 2011, to simplify procedures for companies with no or inadequate profits. Listed companies and their subsidiaries no longer need Central Government approval to pay remuneration exceeding Rs. 4 lakh per month to professional managerial personnel, provided they have no interest in the company's capital and possess graduate-level qualifications with specialized expertise. General conditions outlined in the Act must still be met. This change aims to foster growth in the Indian corporate sector by easing regulatory burdens.