Companies managerial appointment rules amended: new MR 1 and MR 2 forms require detailed disclosures and attachments. The amendment substitutes revised Form MR 1 and Form MR 2, effective 23 January 2023. Form MR 1 is the return of appointment requiring entity and appointee details, board resolution, remuneration breakdown, tenure, age and disqualification disclosures, and attachments including board resolution and Nomination and Remuneration Committee certificate. Form MR 2 is the application to the Central Government where Part I of Schedule V is not complied with (including over 70 appointees and non residents), requiring detailed personal particulars, identification of non compliance, justification, resolutions, auditor and committee certificates, and specified documentary attachments.
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Companies managerial appointment rules amended: new MR 1 and MR 2 forms require detailed disclosures and attachments.
The amendment substitutes revised Form MR 1 and Form MR 2, effective 23 January 2023. Form MR 1 is the return of appointment requiring entity and appointee details, board resolution, remuneration breakdown, tenure, age and disqualification disclosures, and attachments including board resolution and Nomination and Remuneration Committee certificate. Form MR 2 is the application to the Central Government where Part I of Schedule V is not complied with (including over 70 appointees and non residents), requiring detailed personal particulars, identification of non compliance, justification, resolutions, auditor and committee certificates, and specified documentary attachments.
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