Transcription of APPOINTMENT & REMUNERATION cover - ICSI
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APPOINTMENT & REMUNERATION cover - ICSI
COMPANIES ACT, 2013 BACKGROUNDERAPPOINTMENT ANDAPPOINTMENT ANDAPPOINTMENT ANDAPPOINTMENT ANDAPPOINTMENT ANDREMUNERREMUNERREMUNERREMUNERREMUNERAA AAATIONTIONTIONTIONTIONOFOFOFOFOFKEY MANAKEY MANAKEY MANAKEY MANAKEY MANAGERIALGERIALGERIALGERIALGERIALPERSON NELPERSONNELPERSONNELPERSONNELPERSONNELI ntroductionThe executive management of a company is responsible for theday to day management of a company. The companies Act, 2013 hasused the term key management personnel to define the executivemanagement. The key management personnel are the point of firstcontact between the company and its stakeholders. While the Boardof Directors are responsible for providing the oversight, it is the keymanagement personnel who are responsible for not just laying downthe strategies as well as its XIII of the Companies Act, 2013 read with Companies( APPOINTMENT and REMUNERATION of Managerial Personnel) Rules, 2014deal with the legal and procedural aspects of APPOINTMENT of KeyManagerial Personnel including Managing Director, Whole-timeDirector or Manager, managerial REMUNERATION , secretarial audit Managerial PersonnelThe Companies Act, 2013 has for the first time recognized theconcept of Key Managerial Personnel.
Appointment with the Approval of Central Government In case the provisions of Schedule V of the Companies Act, 2013 are not fulfilled by company, an application seeking approval to the …
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