No.5/4/2000-CL.V
Government of India
Ministry of Law, Justice & Company Affairs
DEPARTMENT OF COMPANY AFFAIRS
…
Shastri Bhawan, 5th Floor, A-Wing,
Dr. Rajendra Prasad Road,
New Delhi – 110 001, the 6th March, 2000.
PRESS NOTE No. 3/2000
Subject:- Amendment in Part II Section II of Schedule-XIII to the Companies
Act, 1956
The Central Government, in exercise of powers conferred by sub-section (1) of Section 642 of the Companies Act, 1956 has made further amendment in Schedule-XIII (Part II Section II) allowing payment of remuneration to managerial personnel in the event of absence of inadequacy of net profits of the company, ranging between Rs.75,000/- to Rs.2,00,000/- per month depending upon the Effective Capital of the company.
3. A copy of this Press Note and Notification (GSR 215(E) dated 02.03.2000) has been placed at the Web page of the Department of Company Affairs at the Internet Address
http://www.nic.in/dca.
( A. Ramaswamy )
Joint Secretary to the Govt. of India