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of <h1>Central Government Amends Schedule XIII of Companies Act; Eases Remuneration Approval for Certain Listed Company Subsidiaries</h1> The Central Government has amended Schedule XIII of the Companies Act, 1956, to specify that approval from the Central Government is not required for certain remuneration cases. This applies to subsidiaries of listed companies if the Remuneration Committee and board of directors of the holding company consent to the remuneration, it is approved in a general meeting, and all subsidiary members are corporate bodies. Additionally, listed companies or their subsidiaries do not need Central Government approval for managerial remuneration fixed by the Board for Industrial and Financial Reconstruction. This amendment is effective upon publication in the Official Gazette.
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