https://www.taxtmi.com/circulars?id=10717 Amendment to the Banking Companies Act requires regulatory approval for appointment of managers/managing directors, but because the banking statute does not exclude the operation of companies law remuneration limits, banking companies must obtain Central Government approval in the Department of Company Law Administration when proposed managerial remuneration exceeds those statutory maxima, in addition to the Reserve Bank's approval for appointment. en-us Sat, 01 Dec 1962 00:00:00 +0530 Thu, 16 Jun 2011 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10717 Amendment to the Banking Companies Act requires regulatory approval for appointment of managers/managing directors, but because the banking statute does not exclude the operation of companies law remuneration limits, banking companies must obtain Central Government approval in the Department of Company Law Administration when proposed managerial remuneration exceeds those statutory maxima, in addition to the Reserve Bank's approval for appointment. Circulars Companies Law Sat, 01 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10717