https://www.taxtmi.com/acts?id=17494 The statute prescribes percentage ceilings on total managerial remuneration and separate caps for managing/whole time directors, managers and non executive directors, measured by net profits computed under section 198; shareholder approval under Schedule V is required to exceed limits, and prior secured creditor consent is necessary if the company has defaulted. In years of no or inadequate profits, remuneration (excluding prescribed fees) is payable only under Schedule V. Excess payments must be refunded and held in trust; auditors and boards must disclose compliance and listed companies must report director to median employee remuneration ratios. en-us Sat, 02 Mar 2013 13:19:05 +0530 Wed, 10 Dec 2025 16:25:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17494 The statute prescribes percentage ceilings on total managerial remuneration and separate caps for managing/whole time directors, managers and non executive directors, measured by net profits computed under section 198; shareholder approval under Schedule V is required to exceed limits, and prior secured creditor consent is necessary if the company has defaulted. In years of no or inadequate profits, remuneration (excluding prescribed fees) is payable only under Schedule V. Excess payments must be refunded and held in trust; auditors and boards must disclose compliance and listed companies must report director to median employee remuneration ratios. Act-Rules Companies Law Sat, 02 Mar 2013 13:19:05 +0530 https://www.taxtmi.com/acts?id=17494