Managerial remuneration - In case of absence or inadequacy of profits When approval of the Central Government is not required as per in terms of the sub section as recast by the Companies (Amendment) Act, 1988

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....ct, 1988<br>Circular : No. 3, Dated:- 13-4-1989 Circular<br>Companies Law<br>Circular : No. 3, dated 13&#8209;4&#8209;1989. Subject:- Managerial remuneration - In case of absence or inadequacy of pro....

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....(b) the resolution passed in the general meeting provided for a cut1 of 10 per cent of the salary proposed to be paid, in terms of paragraph 2 of Part III of Schedule XIII to the Act. Where it is pro....