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    Major Amendment in Ca Final Law Managerial Remuneration Section 149, 197 & Schedule V

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    monudeep aggarwal
    This document summarizes major amendments to Sections 149, 197, and Schedule V of the CA Final law regarding managerial remuneration. It states that non-executive and independent directors will be considered "other directors" under these sections. Section I discusses remuneration limits for profitable companies, while Section II discusses higher limits for no-profit or inadequate-profit companies in a table specifying the maximum yearly remuneration based on company capitalization.

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    Major Amendment in Ca Final Law Managerial Remuneration Section 149, 197 & Schedule V

    Uploaded by

    monudeep aggarwal
    22 views1 page
    This document summarizes major amendments to Sections 149, 197, and Schedule V of the CA Final law regarding managerial remuneration. It states that non-executive and independent directors will be considered "other directors" under these sections. Section I discusses remuneration limits for profitable companies, while Section II discusses higher limits for no-profit or inadequate-profit companies in a table specifying the maximum yearly remuneration based on company capitalization.

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    Amendement

    Original Title

    Final-Amendment-Schedule-V

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    This document summarizes major amendments to Sections 149, 197, and Schedule V of the CA Final law regarding managerial remuneration. It states that non-executive and independent directors will be considered "other directors" under these sections. Section I discusses remuneration limits for profitable companies, while Section II discusses higher limits for no-profit or inadequate-profit companies in a table specifying the maximum yearly remuneration based on company capitalization.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views1 page

    Major Amendment in Ca Final Law Managerial Remuneration Section 149, 197 & Schedule V

    Uploaded by

    monudeep aggarwal
    This document summarizes major amendments to Sections 149, 197, and Schedule V of the CA Final law regarding managerial remuneration. It states that non-executive and independent directors will be considered "other directors" under these sections. Section I discusses remuneration limits for profitable companies, while Section II discusses higher limits for no-profit or inadequate-profit companies in a table specifying the maximum yearly remuneration based on company capitalization.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Important Amendment

    CA Final – Schedule V

    Major Amendment in Ca Final Law


    Managerial Remuneration
    Section 149, 197 & Schedule V

    Explanation– For the purposes of Section I, Section II and Section III, the term “or other director” shall
    mean :-
    (a) a non-executive director or
    (b) an independent director.

    Section I — Remuneration payable by companies having profits.


    Subject to the provisions of section 197, a company having profits in a financial year may pay remuneration
    to a managerial person or persons or other director or directors not exceeding the limits specified in
    such section.

    Section II — Remuneration payable by companies having no profit or inadequate profit


    Where in any financial year during the currency of tenure of a managerial person or other director, a
    company has no profits or its profits are inadequate, it may, pay remuneration to the managerial person or
    other director not exceeding the limits under (A) and (B) given below:-
    (A)
    Limit of yearly remuneration Limit of yearly remuneration
    Effective Capital
    payable shall not exceed (`) payable shall not exceed (`)
    (` in crores)
    In case of Managerial Person In case of Other Director
    (i) Negative or < ` 5 cr 60 lakhs 12 lakhs
    (ii) ≥ ` 5 cr but < ` 100 cr 84 lakhs 17 lakhs
    (iii) ≥ ` 100 cr but < ` 250 cr 120 lakhs 24 lakhs
    (iv) ≥ ` 250 crores 120 lakhs plus 0.01% of the 24 lakhs plus 0.01% of the
    effective capital in excess of ` effective capital in excess of `
    250 crores. 250 crores.
    .

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