Managerial remuneration

No they don’t come under section 198 and other remuneration related provisions like CG approval etc. However they should not be connected with the director as relatives etc to prevent from section 314.

Regards

Hi... Sec 198( read with Schedule XII )applies only incase of Managerial remuneration which inludes Managing Director/Whole -time Director/ Manager of the company  but does not include COO and CEO of the company who are not  directors of the company. In that case there is no need to take approval for their  appointment and remunertaion from the central government through e-form 25A.

Thanks Ankur for your help, but cant Cheif Operating Office comes under the head of "Manager" and if so that section 198 is applicable on above mentioned situation

Manager is a specific position UNDER SECTION 2(24) read with section 269. Hence We can not automatically consider COO as Manager u/s 269.

So there is nothing to worry.

Just be aware of section 314.

Section 198 and Sch XIII are not applicable.

Regards