The Ministry of Corporate Affairs (MCA) has issued the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2023. These Rules further amend the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The Amendment Rules were issued on 19th January, 2023 and shall be effective from 23rd January, 2023.
The Amendment Rules have brought about revisions in the following forms:
1. Form No. MR.1- Return of appointment of key managerial personnel
2. Form No. MR. 2 – Form of application to the Central Government for approval of appointment or reappointment and remuneration or increase in remuneration or waiver for excess or over payment to managing director or whole time director or manager and commission or remuneration to directors.
