11 June 2016
wt rule7 appointment and renumeration of personnel, about listed and subsidiaries of listed companies. ...whether they have to take CG approval or wt?
13 June 2016
If the remuneration of the Directors are within the prescribed limit as mentioned in the Schedule V (Read with S.198) of Companies Act, 2013, approval of Central Govt is not required. Else it is required
14 June 2016
The term "Director" means any person who is appointed to the Board of a Company. For the purpose of payment of remuneration, the term used in S.197 of the Companies Act, is director or manager. The term manager means a person who is controlled and directed by the Board of Director. However, the amount does not include the sitting fees and the reimbursement of expenses. The amount of fees which can be paid is stated in Rule 7 of Companies (Appointment and Remuneration) Rules, 2014. Listed company and its subsidiary is subjected to approval of Central Government.
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