Lawgist200Central Government or company to fix limit with regard to remuneratio
Notwithstanding anything contained in this Chapter, 2*** a company may, while according its approval under section 196, to any appointment or to any remuneration under section 197 in respect of cases where the company has inadequate or no profits, fix the remuneration within the limits specified in this Act, at such amount or percentage of profits of the company, as it may deem fit and while fixing the remuneration, 1*** the company shall have regard to--
(a) the financial position of the company;
(b) the remuneration or commission drawn by the individual concerned in any other capacity;
(c) the remuneration or commission drawn by him from any other company;
(d) professional qualifications and experience of the individual concerned;
(e) such other matters as may be prescribed.
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1. The words "which begins at or after the commencement of this Act" omitted by Act 1 of 2018, s. 68 (w.e.f. 12-9-2018).
2. The words "the Central Government or" omitted s. 69, ibid., (w.e.f. 12-9-2018).
- 196 Appointment of managing director, whole-time director or manager
- 197 Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits
- 198 Calculation of profit
- 199 Recovery of remuneration in certain case
- 200 Central Government or company to fix limit with regard to remuneratio
- 201 Forms of, and procedure in relation to, certain applications
- 202 Compensation for loss of office of managing or whole-time director or manager
- 203 Appointment of key managerial personnel
- 204 Secretarial audit for bigger companie
- 205 Functions of company secretary
