Managerial remuneration, Corporate Laws / SEBI / LLP

[BHOJARAJ SHETTY]

Is there any restriction under Company Law for managerial remuneration of closely held public limited company

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[Prakash Bhandari]

the restiction for mangerial remuneration is specified in sec 309 and sec XIII of the companies Act. Broadly it is 11% profits , in it 5% to one individual having fultime appointment and 1 % for non wholetime appointment. In case of insufficient profit as per SCH XIII