Committee

Hi,

Compensation Committee has no recognisation in law and not a mandatory one.

However Schedule XIII has recognized Remuneration Committee but it is also not mandatory. Remuneration Committee is required only if you are planning to follow sch XIII and pay remuneration to your directors as per Sch XIII.

As per general texture of Committee concept we can form committee for any kind of corporate purpose.

Regards

However you may find some reference regarding Compensation Committee in SEBI ESOP Guidelines. Lots of companies in India have also followed the concept of forming Remuneration cum Compensation Committee to serve dual purpose to handle Sch XIII and ESOPs, if any.

Regards