Public companies no longer need govt nod for managerial pay beyond certain limits
Updated : September 14, 2018 07:21 AM IST
Relaxing the norms, the Corporate Affairs Ministry on Thursday said that in such cases, only approval of shareholders by way of a special resolution would be required.
Till now, public companies were required to get the approval from the ministry when it comes to giving remuneration beyond certain levels to their managerial personnel.
The ministry said the move is in pursuance of the policy of minimum government-maximum governance and providing ease of doing business to the law-abiding corporates of this country.
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