Waiver of approval of Central Government for payment of remuneration to professional managerial person by companies having no profits or inadequate profits.

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..... ad Road, New Delhi Dated: 14.07.2011 To, All the Regional Directors, All the Registrar of Companies, All Stakeholders Sub: Waiver of approval of Central Government for payment of remuneration to professional managerial person by companies having no profits or inadequate profits Sir, In order to promote the development of Indian Corporate sector and another step towards simplif .....

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..... (a) is not having any direct or indirect interest in the capital of the company or its holding company or through any other statutory structures at any time during last two years before or on the date of appointment and (b) is having a graduate level qualification with expert and specialized knowledge in the field of his profession. 4. The other general conditions specified in para (c) of Sec .....

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