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Home > Company Registration > Contact Us

SCHEDULE V of the Companies Act 2013 amended

In a notification, on 12th September 2016, the central government has made amendments in the Schedule V of the companies Act regarding appointment and remuneration of managerial persons. The amendment sets the limits for remuneration which a company having no or inadequate profits may pay to the managerial person without approval from central government.
 
However, this limit can be doubled provided a special resolution is passed by the shareholders. The amendment also makes way for managerial person functioning in a professional capacity without any interest in the company or any of its subsidiaries or having any relation with its promoters/Directors.
 
The notification also defines the rules for calling the general meeting, information about the appointee, and other Disclosures in the Board of Director's report.
 
To go through the complete notification issued by MCA please check the link below:
 
SCHEDULE-V-of-the-Companies-Act-2013-amended 
Keywords : SCHEDULE V of the Companies Act 2013 amended

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