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P C Agrawal (Vice President (Corporate)) 23 July 2013
In case yours is a public company and you are not able to meet Schedule-XIII conditions, you will have to take CG approval for payment of remuneration. You should be in a position to justify the remuneration keeping in view industry practice, financial condition of the company etc. You can also refer PPT on managerial remuneration posted by me yesterday in Files Section of this forum for details.