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[Cites 0, Cited by 0] [Section 17(6)] [Section 17] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 17(6)(e) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

(e)[ The fees or compensation payable to executive directors who are promoters or members of the promoter group, shall be subject to the approval of the shareholders by special resolution in general meeting, if- [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).]
(i)the annual remuneration payable to such executive director exceeds rupees 5 crore or 2.5 per cent of the net profits of the listed entity, whichever is higher; or
(ii)where there is more than one such director, the aggregate annual remuneration to such directors exceeds 5 per cent of the net profits of the listed entity: