sec 197 director remuneration

AS PER THE NOTIFICATION IN YEAR 2016, IF THE COMPANY FOLLOWS PART B OF SCHEDULE V , THEN NO NEED OF CG APPROVAL . THE COMPANY CAN PAY REMUNERATION TO IT DIRECTOR AS PER THE LIMITS SPECIFIED IN SCHEDULE V PART . HOWEVER SUCH LIMIT SHALL BE DOUBLE IF SR IS PASSED.

NO CG APPROVAL IS REQUIRED TO MANGERIAL PERSONNAL OR PROFESSIONAL DIRECTORS EVEN IF THE LIMIT SPECIFIED IN THE SCHEDULE V PART 2 IS MORE THAN THE DOUBLE. 

PROVIDED SUCH MANAGERAIAL PERSONNAL SHALL NOT HAVE INTREST IN THE COMPANY OR IS NOT ASSOCIATED TO ANY DIRECTORS OR PROMOTERS OF THE COMPANY AND SHALL ALSO POSSESS GRADUATION DEGREE