Conditions for appointment of managing/whole-time Director, etc.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dule XIII to the Companies Act, 1956 (1 of 1956), has been notified by the Central Government in the Gazette of India, Extraordinary on 14th July, 1993, and has become effective from the date of its notification. Appointment and remuneration of managing/whole-time directors and managers from the date of notification of revised Schedule XIII will be regulated by the provisions of revised Schedule X....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....oved by the Central Government, except in those cases where the appointment/remuneration had been approved by the Central Government subject to certain specific conditions. Where certain specific conditions had been imposed by the Central Government while approving appointment/remuneration, those conditions will still have to be complied with unless varied by the Central Government. It is also ....