https://www.taxtmi.com/caselaws?id=99379 The Supreme Court upheld the administrative ceiling of Rs. 1,20,000 per annum imposed by the Company Law Board on the remuneration of managing directors. The Court clarified that the Board acted within its powers under Sections 269 and 637A of the Companies Act, 1956, by setting this condition. The judgment overturned the High Court's decision, emphasizing the Board's authority to impose such limitations on remuneration. The issue regarding the refusal to enhance remuneration above Rs. 50,000 for the loss year was not further addressed as it had been resolved by the High Court. en-us Fri, 17 Dec 1976 00:00:00 +0530 Wed, 25 Sep 2013 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99379 The Supreme Court upheld the administrative ceiling of Rs. 1,20,000 per annum imposed by the Company Law Board on the remuneration of managing directors. The Court clarified that the Board acted within its powers under Sections 269 and 637A of the Companies Act, 1956, by setting this condition. The judgment overturned the High Court's decision, emphasizing the Board's authority to impose such limitations on remuneration. The issue regarding the refusal to enhance remuneration above Rs. 50,000 for the loss year was not further addressed as it had been resolved by the High Court. Case-Laws Companies Law Fri, 17 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99379