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Can unlisted Company pay managerial remuneration exceeding the limit specified in Schedule V of Companies Act, 2013 (in case of inadequate profit), with CG approval or without obtaining CG approval?

Section 197- Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

Posted By: Vivek vijay 10 year(s) ago

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Expert Ankit Singhi

Yes, Unlisted company may without obtaining Central Government approval pay remuneration to its managerial personnel in the event of inadequate profit beyond the limit specified in Schedule V subject to the condition as prescribed in Rule No. 7 of Companies (Appointment and remuneration of Managerial Personnel) Rules, 2014.

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