Section 200 of the Companies Act, 2013 (With amendments)
Following is the Section 200 of the Companies Act, 2013 with the amendments as per the Companies (Amendment) Act,2017. Section 200 of the Companies Act, 2013 will be applicable from the 12th September 2018. A notification is issued regarding the enforcement of the section on 12th September 2018. This section talks about the Central Government or company to fix limit with regard to remuneration. This section can also be called Section 67 of the Companies (Amendment) Act, 2017.
Central Government or company to fix limit with regard to remuneration
Notwithstanding anything contained in this Chapter, a company may, while according its approval under section 196, to any appointment or to any remuneration under section 197 in respect of cases where the company has inadequate or no profits, fix the remuneration within the limits specified in this Act, at such amount or percentage of profits of the company, as it may deem fit and while fixing the remuneration, the company shall have to regard to—
(a) the financial position of the company;
(b) the remuneration or commission has drawn by the individual concerned in any other capacity;
(c) the remuneration or commission has drawn by him from any other company;
(d) professional qualifications and experience of the individual concerned;
(e) such other matters as may be prescribed.
