Government regulates remuneration of officials of Government Companies

Government regulates remuneration of officials of Government Companies

Minister of State for Corporate Affairs, Mr. R.P.N. Singh has said that the Government regulates the remuneration of managing directors / whole-time directors / managers (board level positions) in accordance with provisions of Schedule XIII of the Companies Act, 1956. Listed Companies and subsidiaries of Listed Companies in India which are loss making / have inadequate profits require Government approval for paying remuneration in excess of ceiling stipulated therein.

The Minster was replying to a question by Meenakshi Nataranajan in the Lok Sabha recently. .