https://www.taxtmi.com/notifications?id=24219 Amendments to Schedule XIII exempt subsidiaries of listed companies from Central Government approval for managerial remuneration where the holding company's Remuneration Committee and Board consent, a special resolution authorizes payment, the remuneration is deemed paid by the holding company, and all members of the subsidiary are bodies corporate; remuneration fixed by the Board of Industrial and Financial Reconstruction is also exempt. A further exemption applies where the managerial person has no direct or indirect capital interest or relatedness within two years and holds a graduate qualification with specialized expertise. "Statutory Structure" is defined as any entity entitled to hold shares under statute. en-us Thu, 14 Jul 2011 00:00:00 +0530 Tue, 19 Jul 2011 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=24219 Amendments to Schedule XIII exempt subsidiaries of listed companies from Central Government approval for managerial remuneration where the holding company's Remuneration Committee and Board consent, a special resolution authorizes payment, the remuneration is deemed paid by the holding company, and all members of the subsidiary are bodies corporate; remuneration fixed by the Board of Industrial and Financial Reconstruction is also exempt. A further exemption applies where the managerial person has no direct or indirect capital interest or relatedness within two years and holds a graduate qualification with specialized expertise. "Statutory Structure" is defined as any entity entitled to hold shares under statute. Notifications Companies Law Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/notifications?id=24219