| (1) | (2) | (3) | |
| SL No. | Where the effective capital (in rupees) is | Limit of yearly remuneration payable shall not exceed (in Rupess) in case of a managerial person | Limit of yearly remuneration payable shall not exceed (in rupees) in case of other director |
| (i) | Negative or less than 5 crores | 60 lakhs | 12 lakhs |
| (ii) | 5 crores and above but less than 100 crores | 84 lakhs | 17 Lakhs |
| (iii) | 100 crores and above but less than 250 crores | 120 lakhs | 24 Lakhs |
| (iv) | 250 crores and above | 120 lakhs plus 0.01% of the effective capital in excess of Rs. 250 crores | 24 Lakhs plus 0.01% of the effective capital in excess of Rs.250 crores.” |
(c) in Section III, –
(i) after the words ―managerial person‖, wherever occurred, except in clause (i) of the proviso, the words ―or other director” shall be inserted;
(ii) after the words ―managerial persons”, wherever occurred, the words ―or other directors” shall be inserted;
(iii) following explanation shall be inserted at the end, namely:-“Explanation.–For the purposes of Section I, Section II and Section III, the term ―or other director” shall mean a non-executive director or an independent director.”
[F.No. 1/5/2013-CL-V]
K.V.R.MURTY, Jt. Secy.Note :
The Schedule V of the Companies Act, 2013 came into force with effect from the 1st April,2014 and was last amended vide notification number S.O. 4822(E) dated 12.09.2018 published in the Gazette of India
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