Managerial Remuneration

Amit (Company Secretary) (73 Points)

29 April 2010  

I have query on managerial remunaration.

As per clarification given by MCA : In case where sec. II of Part II of Sch. XIII is appliacble if the effective capital of a company is reduced in any financial year (f/y)  subsequent to the year of appointment  with result that remuneration payable in that financial year no longer corresponds to the effective capiotal, then the remuneration will have to be scaled down appropriately.

Will this also apply to any subsequent increase in effective capital in any f/y subsequent to the year of appointment.

Thnks in advance


Regards

Amit