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THE COMPANIES ACT, 2013 _____ ARRANGEMENT OF SECTIONS Last update-29-7-2022 _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent, commencement and application. 2. Definitions. CHAPTER II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO 3. Formation of company. 3A. Members severally liable in certain cases. 4. Memorandum. 5.
Jun 1, 2021 · Section 197 of the Companies Act, 2013 Overall Maximum Managerial Remuneration and Managerial Remuneration In Case of Absence or Inadequacy of Profits. (1) Maximum amount of managerial remuneration. Total managerial remuneration payable by a public company, to –. its directors, managing director and. whole-time director and. its manager.
It is clarified by MCA vide Circular 07/2015 dated 10th April 2015 that where listed companies and their subsidiaries have agreed to pay remuneration to managerial person, without approval of Central Government, in excess of limits specified in para II Para (C) of Schedule XIII of the Companies Act, 1956 (read with MCA’s Circular number 14 ...
Nov 4, 2023 · Director remuneration is a critical aspect of corporate governance, governed by Section 197 and 198 of the Companies Act, 2013. This article delves into the regulations and restrictions surrounding the remuneration of different types of directors in various scenarios.
Section 197 in The Companies Act, 2013. 197. Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.—. (1) The total managerial remuneration payable by a public company, to its directors, including managing director and whole-time director, and its manager in respect of any financial ...
Aug 1, 2023 · Section 197 (6) of the Act of 2013 provides for the way by which a director or a manager may be paid remuneration. The director or manager can either be paid monthly or at a specified percentage of the net profits of the company, or a combination of both, as the case may be.
Aug 24, 2024 · By IndilegalOnline. Posted in Companies Act, 2013. Tagged as Chapter XIII Appointment and Remuneration of Managerial Personnel. Updated September 23, 2024. 7 mins read. Table of Contents. Section 197 of Companies Act 2013-Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.
Section 197. Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of Profits. [Effective from 1st April, 2014] EXEMPTIONS. Section 197 shall not apply to a Government Company, vide Notification No. GSR 463 (E) dated 5th June, 2015.
Aug 3, 2014 · Section 197 of the Companies Act, 2013: Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits
Feb 27, 2018 · Case 1:- Adequate Profits. Example: ABC Ltd. is a public limited company with effective capital more than 5 crore but less than 100 crore. The Net profit (under section 198 of companies act) of company in FY 2016-17 is Rs 25 crores.
