Companies amendment rules replace MR 2 form, alter rule headings, omit specified provisions, and set commencement by notification. The 2018 amendments retitle rule 6 as Parameters for consideration of remuneration and remove references to the Central Government, omit rule 7(2), and substitute Form No. MR 2. The new MR 2 provides the application and evidentiary framework for approval of managing director/whole time director/manager appointments under section 196 and Schedule V, specifying disclosure of qualifications and disqualifications, justification, board and committee resolutions, auditors' and company secretary certificates, SEBI compliance where applicable, notices under section 201, CG 1 condonation records, and documents for foreign appointees.
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Provisions expressly mentioned in the judgment/order text.
Companies amendment rules replace MR 2 form, alter rule headings, omit specified provisions, and set commencement by notification.
The 2018 amendments retitle rule 6 as Parameters for consideration of remuneration and remove references to the Central Government, omit rule 7(2), and substitute Form No. MR 2. The new MR 2 provides the application and evidentiary framework for approval of managing director/whole time director/manager appointments under section 196 and Schedule V, specifying disclosure of qualifications and disqualifications, justification, board and committee resolutions, auditors' and company secretary certificates, SEBI compliance where applicable, notices under section 201, CG 1 condonation records, and documents for foreign appointees.
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