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MCA Notification Dt. 30.06.2016 Notified the Companies (Appointment & Remuneration of Managerial Personnel) Amendment Rules 2016.

MCA vide Notification No. G.S.R.___ on 30.06.2016, has amended the Companies (A Appointment & Remuneration of Managerial Personnel) Amendment Rules, 2016 and shall came into effect from the date of its publication in Official Gazette.

Highlights of the notification are:

  1. Return of Appointment i.e. Form MR-1 not required to be filed for CEO, CS, CFO.
  2. Various Disclosures as per Rule 5(1) in Directors Report relating to Directors and Employees getting remuneration have reduced.
  3. Disclosure as per Rule 5 (2) in Directors Report relating to employees whose salary is Rs. 1.2 crore p.a. or 8.5 lac p.m. to be made instead of 60 lac p.a. or 5 lac p.m.

The said notification can be accessed at the following link:MCA Notificaiton dt. 30.06.2016 cos. app & rmntn Amendment Rules

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