7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089

DIVESH GOYAL

Mob +918130757966

Practicing Company Secretary csdiveshgoyalgmailcom

GOYAL DIVESHamp ASSOCIATES

In continuation of article No

Mandatory Appointment of Managerial Personnel

It is mandatory for the below mentioned companies to appoint Managerial Personnel

1 All Listed Companies

2 Every Public Company having a Paid-Up Share Capital of Rs 10 Crore (Ten crore

rupees) or more

Exemption to Private Companies

983105983155 983152983141983154 983116983137983159 983156983144983141983154983141 983145983155 983150983151 983139983151983149983152983157983148983155983145983151983150 983142983151983154 983120983154983145983158983137983156983141 983107983151983149983152983137983150983161 983156983151 983137983152983152983151983145983150983156 983117983108 983127983124983108 983137983150983140 983117983137983150983137983143983141983154

983105983155 983152983141983154 983105983139983156 983120983154983145983158983137983156983141 983107983151983149983152983137983150983161 983139983137983150 983139983151983150983156983145983150983157983141 983159983151983154983147983145983150983143 983159983145983156983144983151983157983156 983117983108 983127983124983108 983137983150983140 983149983137983150983137983143983141983154

983156983144983154983151983157983143983144983151983157983156 983156983144983141 983148983145983142983141 983151983142 983139983151983149983152983137983150983161 983106983157983156 983145983142 983120983154983145983158983137983156983141 983139983151983149983152983137983150983161 983137983152983152983151983145983150983156983155 983137983150983161 983117983137983150983137983143983141983154983145983137983148 983120983141983154983155983151983150983150983141983148983159983145983148983148983145983150983143983148983161 983124983144983141983150 983139983151983149983152983137983150983161 983154983141983153983157983145983154983141983155 983156983151 983142983151983148983148983151983159 983123983141983139983156983145983151983150983098 983089983097983094 983151983142 983107983105983085983090983088983089983091

APPOINTMENT OF MANAGERIAL PERSONNEL

As per exemption Notification dated June 5 2015 provisions of section

196(4) and 196(5) are not applicable on Private Limited Companies

Because of Exemption following provisions are not applicable on Private Limited

Companies

bull Overall managerial remuneration (197)

bull

Schedule Vbull Approval of Shareholders

bull Central Government Approval

bull Filing of e-form MR-1

1PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- Draft Resolution

1 983124983141983154983149 983151983142 983117983137983150983137983143983141983154983145983137983148 983120983141983154983155983151983150983150983141983148 983159983145983148983148 983138983141 5 983161983141983137983154 983145983150 983139983137983155983141 983151983142 983137983148983148 983107983151983149983152983137983150983145983141983155

Private Limited

Com an

Series- 123

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983090

II 0-8 Receiving of

Documentsfrom Person

- Obtain MBP-1 from theDirectors

-

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms and

conditions on which the MD isproposed to be appointed

- Pass Board Resolution fordesignation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof Resolution

AgreementAppointment Letter

IV 23 Circulation ofDraft Minutes

Company will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Filing of e-form

MGT-14

File certified true copy ofresolution with the concerned

ROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

-

B Appointment of New Director as Managerial Personnel

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983091

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII

0-8 Receiving ofDocumentsfromconcernedPerson

Obtain the following from theProposed person- MBP-1 (Interests)- DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forappointment of additionalDirector

- Pass Board Resolution todesignate additional Director asMDWTDManager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms with

the Company

Certified true copyof both ResolutionAgreementAppointment Letter

IV 23 Circulation ofDraft Minutes

Company will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Filing of e-form

MGT-14File certified true copy of

resolution with the concernedROC within 30 days of passingof Resolution

DIR-12 (Appoint as AD)File certified true copy ofresolution with the concerned

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983092

ROC within 30 days of passingof Resolution

DIR-12 (Designate asMDWTDManager)

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

VII

Subsequent General MeetingVIII 0 Notice of

GeneralMeeting

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIX 23 Holding of

GeneralMeeting

- Pass ordinary resolution forregularization of Additionaldirector as continue Director

Forms

Important Note for Private Limited Company

2A person can be appointing as MD in more than one Private Limited Company A Company can have more than one MDWTD

2 203(3) 983156983144983145983154983140 983152983154983151983158983145983155983151 983150983151983156 983137983152983152983148983145983139983137983138983148983141 983151983150 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983093

APPOINTMENT OF MANAGERIAL PERSONNEL

While appointing Managerial Personnel Public Company required following

Section 196 Section 197 Schedule V and Section 203(some extent)

Form MR-1 MGT-14 and DIR-12 will file

Board of Director will appoint subject to approval of Shareholders

PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII 0-8 Receiving of

Documentsfrom Person

- Obtain Disclosure ofInterest of Directors

MBP-1

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Pass Board Resolution for

recommendation to shareholdersfor designation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director ofthe Company to call EGM

Certified true copyof ResolutionAgreementAppointment Letter

IV 9 Documents to

call EGM

Directors will call the meeting of

Shareholders

Notice of GM

Route MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments of If Company receive any

Public Limited

Com an

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

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983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983090

II 0-8 Receiving of

Documentsfrom Person

- Obtain MBP-1 from theDirectors

-

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms and

conditions on which the MD isproposed to be appointed

- Pass Board Resolution fordesignation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof Resolution

AgreementAppointment Letter

IV 23 Circulation ofDraft Minutes

Company will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Filing of e-form

MGT-14

File certified true copy ofresolution with the concerned

ROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

-

B Appointment of New Director as Managerial Personnel

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983091

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII

0-8 Receiving ofDocumentsfromconcernedPerson

Obtain the following from theProposed person- MBP-1 (Interests)- DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forappointment of additionalDirector

- Pass Board Resolution todesignate additional Director asMDWTDManager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms with

the Company

Certified true copyof both ResolutionAgreementAppointment Letter

IV 23 Circulation ofDraft Minutes

Company will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Filing of e-form

MGT-14File certified true copy of

resolution with the concernedROC within 30 days of passingof Resolution

DIR-12 (Appoint as AD)File certified true copy ofresolution with the concerned

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 413

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983092

ROC within 30 days of passingof Resolution

DIR-12 (Designate asMDWTDManager)

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

VII

Subsequent General MeetingVIII 0 Notice of

GeneralMeeting

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIX 23 Holding of

GeneralMeeting

- Pass ordinary resolution forregularization of Additionaldirector as continue Director

Forms

Important Note for Private Limited Company

2A person can be appointing as MD in more than one Private Limited Company A Company can have more than one MDWTD

2 203(3) 983156983144983145983154983140 983152983154983151983158983145983155983151 983150983151983156 983137983152983152983148983145983139983137983138983148983141 983151983150 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983093

APPOINTMENT OF MANAGERIAL PERSONNEL

While appointing Managerial Personnel Public Company required following

Section 196 Section 197 Schedule V and Section 203(some extent)

Form MR-1 MGT-14 and DIR-12 will file

Board of Director will appoint subject to approval of Shareholders

PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII 0-8 Receiving of

Documentsfrom Person

- Obtain Disclosure ofInterest of Directors

MBP-1

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Pass Board Resolution for

recommendation to shareholdersfor designation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director ofthe Company to call EGM

Certified true copyof ResolutionAgreementAppointment Letter

IV 9 Documents to

call EGM

Directors will call the meeting of

Shareholders

Notice of GM

Route MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments of If Company receive any

Public Limited

Com an

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983091

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII

0-8 Receiving ofDocumentsfromconcernedPerson

Obtain the following from theProposed person- MBP-1 (Interests)- DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forappointment of additionalDirector

- Pass Board Resolution todesignate additional Director asMDWTDManager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms with

the Company

Certified true copyof both ResolutionAgreementAppointment Letter

IV 23 Circulation ofDraft Minutes

Company will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Filing of e-form

MGT-14File certified true copy of

resolution with the concernedROC within 30 days of passingof Resolution

DIR-12 (Appoint as AD)File certified true copy ofresolution with the concerned

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 413

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983092

ROC within 30 days of passingof Resolution

DIR-12 (Designate asMDWTDManager)

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

VII

Subsequent General MeetingVIII 0 Notice of

GeneralMeeting

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIX 23 Holding of

GeneralMeeting

- Pass ordinary resolution forregularization of Additionaldirector as continue Director

Forms

Important Note for Private Limited Company

2A person can be appointing as MD in more than one Private Limited Company A Company can have more than one MDWTD

2 203(3) 983156983144983145983154983140 983152983154983151983158983145983155983151 983150983151983156 983137983152983152983148983145983139983137983138983148983141 983151983150 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 513

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983093

APPOINTMENT OF MANAGERIAL PERSONNEL

While appointing Managerial Personnel Public Company required following

Section 196 Section 197 Schedule V and Section 203(some extent)

Form MR-1 MGT-14 and DIR-12 will file

Board of Director will appoint subject to approval of Shareholders

PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII 0-8 Receiving of

Documentsfrom Person

- Obtain Disclosure ofInterest of Directors

MBP-1

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Pass Board Resolution for

recommendation to shareholdersfor designation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director ofthe Company to call EGM

Certified true copyof ResolutionAgreementAppointment Letter

IV 9 Documents to

call EGM

Directors will call the meeting of

Shareholders

Notice of GM

Route MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments of If Company receive any

Public Limited

Com an

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 413

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983092

ROC within 30 days of passingof Resolution

DIR-12 (Designate asMDWTDManager)

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

VII

Subsequent General MeetingVIII 0 Notice of

GeneralMeeting

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIX 23 Holding of

GeneralMeeting

- Pass ordinary resolution forregularization of Additionaldirector as continue Director

Forms

Important Note for Private Limited Company

2A person can be appointing as MD in more than one Private Limited Company A Company can have more than one MDWTD

2 203(3) 983156983144983145983154983140 983152983154983151983158983145983155983151 983150983151983156 983137983152983152983148983145983139983137983138983148983141 983151983150 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 513

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983093

APPOINTMENT OF MANAGERIAL PERSONNEL

While appointing Managerial Personnel Public Company required following

Section 196 Section 197 Schedule V and Section 203(some extent)

Form MR-1 MGT-14 and DIR-12 will file

Board of Director will appoint subject to approval of Shareholders

PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII 0-8 Receiving of

Documentsfrom Person

- Obtain Disclosure ofInterest of Directors

MBP-1

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Pass Board Resolution for

recommendation to shareholdersfor designation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director ofthe Company to call EGM

Certified true copyof ResolutionAgreementAppointment Letter

IV 9 Documents to

call EGM

Directors will call the meeting of

Shareholders

Notice of GM

Route MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments of If Company receive any

Public Limited

Com an

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

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983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

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983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 513

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983093

APPOINTMENT OF MANAGERIAL PERSONNEL

While appointing Managerial Personnel Public Company required following

Section 196 Section 197 Schedule V and Section 203(some extent)

Form MR-1 MGT-14 and DIR-12 will file

Board of Director will appoint subject to approval of Shareholders

PROCESS

A Appointment of Existing Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions DoxForm involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda

-

Draft ResolutionII 0-8 Receiving of

Documentsfrom Person

- Obtain Disclosure ofInterest of Directors

MBP-1

III 8 Holding ofBoard Meeting

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Pass Board Resolution for

recommendation to shareholdersfor designation of Director asMDWTDManager

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director ofthe Company to call EGM

Certified true copyof ResolutionAgreementAppointment Letter

IV 9 Documents to

call EGM

Directors will call the meeting of

Shareholders

Notice of GM

Route MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments of If Company receive any

Public Limited

Com an

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 613

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 713

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 613

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983094

Directors comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and get

the signed minutes Certified from director authorized for thesame

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

Forms

IX 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

X 92 Filing of e-form

MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

B Appointment of New Director as Managerial Personnel

Steps TimeFrame

Particular Detail of Provisions Docs Form involved

I

0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

-

Notice of BM- Agenda- Notes to Agenda- Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)- DIR-2 (Consent)

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 713

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 713

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983095

- DIR-8 (Non-disqualification)III 8 Holding of

Board Meeting- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD isproposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

- Authorize the director of

the Company to call EGM

Certified true copyof both ResolutionAgreementAppointment Letter

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 24 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 31 Comments of

Directors

If Company receives any

comments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 39 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass ordinary resolution forappointment of ManagerialPersonnel

XI

62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution

DIR-12

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 813

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983096

File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XII 92 Filing of e-form

MR-1File certified true copy ofresolution alng with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

APPOINTMENT OF MANAGERIAL PERSONNEL ATTAINED AGE OF 70 YEARS

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 3Draft Resolution

II 0-8 Receiving ofDocumentsfrom Person

Obtain from the Proposedperson- MBP-1 (Interests)-

DIR-2 (Consent)- DIR-8 (Non-disqualification)

III 8 Holding ofBoard Meeting

- Pass Board Resolution forrecommendation to shareholdersfor appointment MD WTD Manager

- Approve the Draftagreement or the terms andconditions on which the MD is

proposed to be appointed

- Authorize any director ofthe Company to file forms withthe Company

Certified true copyof both ResolutionAgreementAppointment Letter

3

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 913

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983097

- Authorize the director ofthe Company to call EGM

IV 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

VI 30 Comments ofDirectors

If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VII 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VIII 32 Holding ofEGM

Pass Special resolution forappointment of ManagerialPersonnel

XIII 62 Filing of e-form

MGT-14File certified true copy ofresolution with the concernedROC within 30 days of passing

of Resolution

DIR-12File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution for change indesignation

XIV 92 Filing of e-form

4MR-1File certified true copy of

resolution along with otherdocuments with the concernedROC within 60 days of passingof Board Resolution

-

PROCESS OF FIXATION OF REMUNERATION OF MANAGERIAL PERSONNEL

4 983113983150 983139983137983155983141 983151983142 983120983154983145983158983137983156983141 983116983145983149983145983156983141983140 983107983151983149983152983137983150983161 983150983151 983150983141983141983140 983156983151 983142983145983148983141 9831179831229830851

Public Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1013

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983088

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

Remuneration of a MDWTD may be fixed in any of the following ways

Subject to the limit of 11 prescribed under

a) By the Companyrsquos Article of Association

b) By an Ordinary resolution [section 197 of the 2013 Act]

c) By a Special Resolution if the Articles of the company so require

LIMIT

If the remuneration so fixed is 5 or less of the net profits of the Company for one

such director and 10 or less for more than one such director then

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve such remuneration subject to approval of Shareholders insubsequent General Meeting

bull Passing of Resolution- Pass Board resolution for fixation of Remuneration subject to approval of

Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolutionSpecial Resolution in the GM for increase in

Remuneration of Director Remuneration should be within the limit fixed us

197 read with schedule V of 2013 Actbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theGeneral Meeting Resolution fixation of remuneration

INCREASE IN REMUNERATION OF MANAGERIAL PERSONNEL

Remuneration to Managerial Personnel govern by Section 197 read with

Schedule V Section 197 and Schedule V to the COMPANIES ACT 2013 Section 197 prescribes

certain caps and compliance only in regard to the remunerations of Directors including MD

WTD and Manager

PROCESS

All Companies

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1113

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983089

I Check if the increase is in accordance with the provisions of Section 197 of the 2013Act read with Schedule V If the approval is in accordance with the condition oftheSchedule no approval of Central Government is necessary

II

PrivateLimitedbull

Call a Board Meeting A Private limited Company not being asubsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull No further approval is necessary unless the Article of Associationso require

bull Pass Board resolution for increase in Remuneration

bull Whenever necessary complete proceedings to alter Articles

III PublicCompany

SUFFICIENT PROFIT

bull Call a Board Meeting A Private limited Company not being a

subsidiary of public Company call a Board Meeting after givingnotice to all the directors of the Company to approve such increasein remuneration

bull Passing of Resolution- Pass Board resolution for increase in Remuneration subject to

approval of Shareholders in subsequent General Meeting- Passing of Board Resolution for calling of EGM

bull Holding of EGM- Pass Ordinary resolution in the GM for increase in

Remuneration of Director Remuneration should be within thelimit fixed us 197 read with schedule V of 2013 Act

bull

Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of thepassing of the Board Resolution varying the remuneration or themaking of the agreement of variation

IV INSUFFICIENT PROFIT

All provision will be same life sufficient profit except followingeditions

bull Check whether payment of increase remuneration as perschedule V part II of the 2013 Act

bull

5If remuneration is more then as mentioned in Part II but lessthen doubled mentioned in Part II then pass SpecialResolution

bull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the

5 983105 983107983151983149983152983137983150983161 983149983137983161 983159983145983156983144983151983157983156 983155983141983141983147983145983150983143 983107983141983150983156983154983137983148 983111983151983158983141983154983150983149983141983150983156 983137983152983152983154983151983158983137983148 983152983137983161 983156983159983145983139983141 983156983144983141 983148983145983149983145983156983155 983143983145983158983141983150 983145983150 983156983144983141 983156983137983138983148983141 983145983150 983120983137983154983137 983105

983151983142 983123983139983144983141983140983157983148983141 983126 983152983137983154983156 983113983113 983123983141983139983156983145983151983150 983113983113 983151983142 983156983144983141 2013 983105983139983156 983151983154 983120983137983154983137 983106 983151983142 983156983144983141 983155983137983145983140 983155983139983144983141983140983157983148983141 983151983154 983123983141983139983156983145983151983150 983113983113983113 983151983142 983156983144983141 983137983145983140 983155983139983144983141983140983157983148983141 983145983142 983156983144983141

983155983144983137983154983141983144983151983148983140983141983154983155 983137983152983152983154983151983158983141 983156983144983141 983155983137983149983141 983138983161 983152983137983155983155983145983150983143 983151983142 983155983152983141983139983145983137983148 983154983141983155983151983148983157983156983145983151983150

Private Limited

Public Limited

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1213

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983090

passing of the Special Resolution varying the remuneration or themaking of the agreement of variation

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PUBLIC COMPANY

Steps TimeFrame

Particular Detail of Provisions Dox Form involved

I 0 Calling ofBoard Meeting

Director will call for the Meetingof Board of Directors

- Notice of BM- Agenda- Notes to Agenda- 6Draft Resolution

II 8 Holding ofBoard Meeting

Pass Board Resolution foralteration in the terms of

Managerial Personnel[196(4)]

Certified true copyof both Resolution

Altered Agreement

III 9 Notice to callEGM

Directors will call the meeting ofShareholders

Notice of GMRoute MapExplanatory Statement

Attendance SlipIV 23 Circulation of

Draft MinutesCompany will circulate the copyof draft minutes to all thedirectors of the Company fortheir Comments

V

30 Comments ofDirectors If Company receives anycomments of the Directors on theDraft minutes then incorporatethe same in the Minutes

VI 38 Signing ofMinutes

Get the minutes Signed from theChairman of the Meeting and getthe signed minutes Certified from director authorized for thesame

-

VII 32 Holding ofEGM

Pass Ordinary resolution foralteration in the terms of

Managerial PersonnelXV 62 Filing of e-

formMGT-14File certified true copy ofresolution with the concernedROC within 30 days of passingof Resolution [117(3)(c)]

6

Terms Change

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]

7242019 123 Process for Appointment of Managerial Personnel

httpslidepdfcomreaderfull123-process-for-appointment-of-managerial-personnel 1313

983124983159983145983156983156983141983154983098 98310498310898314598315898314198315598314498311198315198316198313798314804 983127983144983137983156983155983105983152983152983098 98309613075798309766

983110983106983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149 983111983149983137983145983148 983113983140983098 983139983155983140983145983158983141983155983144983143983151983161983137983148983104983143983149983137983145983148983139983151983149

983089983091

CHANGE IN TERMS OF MANAGERIAL PERSONNEL

PRIVATE COMPANY

In case of Private Limited Companies Section 196(4) not applicable therefore no need for theCompany to pass BoardGeneral Meeting resolutions for alteration in the terms of Managerial

personnel But practically these type of decisions are the Board decision Therefore Board of

Director may pass a Board resolution for alteration in the term of Managerial Personnel

If Company passes Board Resolution then Process

bull Call a Board Meeting Call a Board Meeting after giving notice to all the directors ofthe Company to approve terms

bull Passing of Resolution

-

Pass Board resolution for alteration in the termsbull Filing of e-formFile e-form MGT-14 with the concerned ROC within 30 days of the passing of theBoard Resolution fixation of remuneration[170(3)(c)]