Remuneration to managerial person under Schedule XIII of the Companies Act, 1956 - Clarification with regard to payment for period.

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..... d: 10 th April, 2015 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Remuneration to managerial person under Schedule XIII of the Companies Act, 1956 - Clarification with regard to payment for period. Sir, Stakeholders have drawn attention to the provisions of Schedule XIII (sixth proviso to Para (C) of Section II of Part II) of the .....

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..... amined in the light of earlier clarifications on transitional matters issued by the Ministry. It is clarified that a managerial person referred to in para 1 above may continue to receive remuneration for his remaining term in accordance with terms and conditions approved by company as per relevant provisions of Schedule XIII of earlier Act even if the part of his/her tenure falls after 1 st .....

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