Amendment in Schedule XIII of the Companies Act,1956. - Remuneration payable by companies having no profits or inadequate profits – No approval required from Central government in certain cases

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....l government in certain cases NOTIFICATION NO. G.S.R. 396(E), DATED 23-5-2011 In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956, the Central Government hereby makes the following further amendments in Schedule XIII of the Companies Act, 1956, namely :-- 1. In Schedule XIII, in Part II, in section 2- (i) in sub-paragraph (C), after fourth proviso,....