No.2/29/98-CL.V
Government of
India
Ministry of
Law, Justice & Company Affairs
5th
floor, `A’ Wing, Shastri
Bhavan,
Dr. R.P. Road,
New Delhi.
Dated: 25.6.2002
To
All Regional
Directors
All Registrars of
Companies
Subject: Reports of Board of Directors of Companies –
Statement showing details of employees drawing remuneration beyond the
prescribed limits - Clarification
Sir,
I
am directed to draw attention to General Circular No: 10/2002 dated 26.4.2002
of this Department through which,
inter-alia, the Notification No:
GSR 288(E) dated 17.4.2002
regarding revision of limits in respect of employees to be covered under
Statement to be attached with the report of the Board of Directors pursuant to
section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of
Employees) Rules, 1975, was circulated.
It was clarified through that Circular that such revision will apply in
respect of Directors’ Reports annexed to those Balance Sheets, the financial
year in respect of which has closed on or after 17.4.2002.
2.
The matter regarding application of
such revision also in respect of Directors’ Reports annexed to the Balance Sheets, the financial year in
respect of which was closed prior to 17.4.2002, has been examined in the
Department. A decision has been
taken that Directors’ Reports annexed to the Balance Sheets, the financial year in
respect of which has closed on 31.3.2002 may include details of employees on the
basis of revised
limits.
3.
The receipt of this Circular may kindly be
acknowledged.
Yours
faithfully,
Tel No.3389796