Section 201 of Companies Act, 2013 – Forms of, and procedure in relation to, certain applications

  • Updated Till : May 16, 2024

Section 201. FORMS OF, AND PROCEDURE IN RELATION TO, CERTAIN APPLICATIONS

[Effective from 1st April, 2014]

(1) Every application made to the Central Government under [1] shall be in such form as may be prescribed.

(2) (a) Before any application is made by a company to the Central Government under [2] , there shall be issued by or on behalf of the company a general notice to the members thereof, indicating the nature of the application proposed to be made.

(b) Such notice shall be published at least once in a newspaper in the principal language of the district in which the registered office of the company is situate and circulating in that district, and at least once in English in an English newspaper circulating in that district.

(c) The copies of the notices, together with a certificate by the company as to the due publication thereof, shall be attached to the application.

Applicable Rules

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

[Effective from 1st April, 2014]

Rule 7. Fees.—(1) Every application made to the Central Government under the provisions of Chapter XIII shall be made in Form No. MR.2 and shall be accompanied by fee as may be specified for the purpose.

[3] [***]

(i) payment of remuneration is approved by a resolution passed by the Board and, in the case of a company covered under sub-section (1) of section 178 also by the Nomination and Remuneration Committee, if any, and while doing so record in writing the clear reason and justification for payment of remuneration beyond the said limit;

(ii) the company has not made any default in repayment of any of its debts (including public deposits) or debentures or interest payable thereon preference shares and dividend on preference shares for a continuous period of thirty days in the preceding financial year before the date of payment to such managerial personnel;

(iii) the approval of shareholders by way of a special resolution at a general meeting of the company for payment of remuneration for a period not exceeding three years;

(iv) a statement along-with a notice calling the general meeting referred to clause (iii) of sub-rule (2) above, shall contain the information as per sub clause (iv) of second proviso to clause (B) of section II of part-II of Schedule V of the Act including reasons and justification for payment of remuneration beyond the said limit;

(v) the company has filed Balance Sheet and Annual Return which are due to be filed with the Registrar of Companies.

(3) Every such application seeking approval shall be made to the Central Government within a period of ninety days from the date of such appointment.

 

[1] Substituted for the words “this Chapter” by the Companies (Amendment) Act, 2017 notified vide notification no. File no. 1/5/2013 Part -I-CL-V dated 12th September, 2018.

[2] Substituted for the words”any of the sections aforesaid” by the Companies (Amendment) Act, 2017 notified vide notification no. File no. 1/5/2013 Part -I-CL-V dated 12th September, 2018.

[3] Omitted by the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2018 vide Notification No. F. No. 1/5/2013 CL-V dated 12th September, 2018. Prior to omission it read as under:

“(2) The companies other than listed companies and subsidiary of a listed company may without Central Government approval pay remuneration to its managerial personnel, in the event of no profit or inadequate profit beyond ceiling specified in Section II, Part II of Schedule V, subject to complying with the following conditions namely: —”

39 responses to “Section 201 of Companies Act, 2013 – Forms of, and procedure in relation to, certain applications”

  1. Hi corporatelawreporter.com administrator, You always provide helpful diagrams and illustrations.

  2. Jodelle says:

    I’m not that much of a online reader to be honest
    but your sites really nice, keep it up! I’ll go ahead and bookmark your website to come
    back later on. Cheers

  3. Terrina says:

    This web site truly has all the info I needed concerning this subject and didn’t know who to ask.

  4. Kenyetta says:

    Howdy! Do you know if they make any plugins to help with
    SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Thank you!

  5. Katianne says:

    It’s not my first time to pay a quick visit this web site, i am browsing this website dailly and
    obtain fastidious data from here daily.

  6. Haneefah says:

    Greetings! Very useful advice within this article! It’s the little changes which will make the most important changes. Thanks for sharing!

  7. Jessicaann says:

    Howdy! Would you mind if I share your blog with my facebook group?
    There’s a lot of people that I think would really appreciate your
    content. Please let me know. Thanks

  8. Crystalrose says:

    My partner and I stumbled over here from a different page and thought I might check things out.
    I like what I see so now i am following you. Look forward to going over your web page yet again.

  9. Rasheeda says:

    Can I simply just say what a relief to uncover somebody that genuinely understands what they are talking about online. You certainly know how to bring an issue to light and make it important. A lot more people have to look at this and understand this side of your story. I was surprised that you’re not more popular given that you certainly possess the gift.

  10. Kenley says:

    Thanks for ones marvelous posting! I actually enjoyed reading it, you’re a great author.I will remember to bookmark your blog and may
    come back later on. I want to encourage one to
    continue your great writing, have a nice holiday weekend!

  11. Traver says:

    Howdy! I could have sworn I’ve visited your blog before but after browsing through some of the posts I realized it’s new to me. Anyhow, I’m certainly delighted I discovered it and I’ll be bookmarking it and checking back frequently!

  12. Windsor says:

    Hi friends, how is everything, and what you would like to
    say on the topic of this piece of writing, in my view its truly amazing designed for
    me.

  13. Martha says:

    First of all I want to say great blog! I had a quick question that I’d like to ask if you
    do not mind. I was curious to know how you center yourself and clear your thoughts before writing.
    I’ve had difficulty clearing my mind in getting my ideas out there.
    I truly do enjoy writing however it just seems like the first
    10 to 15 minutes tend to be lost simply just trying to figure
    out how to begin. Any suggestions or hints? Thank you!

  14. Rae says:

    Hey would you mind letting me know which web host you’re working with?
    I’ve loaded your blog in 3 completely different web browsers and I must say this
    blog loads a lot quicker then most. Can you suggest a good
    internet hosting provider at a reasonable price?
    Many thanks, I appreciate it!

  15. Delphia says:

    Helpful info. Lucky me I discovered your site by accident,
    and I am shocked why this accident did not took place in advance!
    I bookmarked it.

  16. Lien says:

    Helpful info. Lucky me I discovered your website unintentionally,
    and I’m stunned why this twist of fate didn’t took place in advance!
    I bookmarked it.

  17. Sima says:

    Excellent blog here! Also your site loads up fast! What host are you using?
    Can I get your affiliate link to your host? I wish my site loaded up
    as quickly as yours lol

  18. Christofer says:

    I think that is among the most significant info for me.
    And i am glad reading your article. However want to remark on some general issues, The site style is perfect, the articles is
    truly great : D. Excellent activity, cheers

  19. Matt says:

    Yes! Finally someone writes about website.

  20. Zella says:

    My partner and I stumbled over here different web page and thought I may as
    well check things out. I like what I see so now i’m following you.
    Look forward to exploring your web page repeatedly.

  21. Elinor says:

    Oh my goodness! Impressive article dude! Thank
    you, However I am going through difficulties with your RSS.
    I don’t know why I cannot subscribe to it. Is there anyone else getting identical RSS problems?
    Anybody who knows the answer will you kindly respond?
    Thanx!!

  22. Liza says:

    Usually I don’t learn article on blogs, but I wish to say that this write-up very forced me
    to try and do so! Your writing taste has been surprised me.
    Thanks, quite nice post.

  23. Buford says:

    Every weekend i used to visit this web site, because
    i want enjoyment, since this this site conations really good funny stuff
    too.

  24. Rodrigo says:

    Great article! This is the kind of information that
    are supposed to be shared around the web.

    Disgrace on the search engines for not positioning this put
    up higher! Come on over and seek advice from my site
    . Thank you =)

  25. Jeannette says:

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point.
    You definitely know what youre talking about, why waste your
    intelligence on just posting videos to your weblog when you could be giving us something enlightening to read?

  26. Bernd says:

    Do you have a spam issue on this site; I also am a blogger,
    and I was curious about your situation; many of us have developed some nice procedures and we are
    looking to exchange strategies with other folks,
    why not shoot me an e-mail if interested.

  27. Georgia says:

    This design is wicked! You definitely know how to keep a reader entertained.
    Between your wit and your videos, I was almost moved to start my own blog (well,
    almost…HaHa!) Excellent job. I really enjoyed what
    you had to say, and more than that, how you presented it.
    Too cool!

  28. Shannan says:

    Ahaa, its nice dialogue on the topic of this paragraph
    here at this blog, I have read all that, so now me also commenting at this place.

  29. Mercedes says:

    Hi, I think your blog might be having browser compatibility issues.
    When I look at your blog site in Ie, it looks fine but when opening
    in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up!
    Other then that, excellent blog!

  30. Hermine says:

    Hi there! This post could not be written any better! Reading through this post reminds me of my
    old room mate! He always kept talking about this. I will forward this write-up to him.
    Fairly certain he will have a good read. Thank you
    for sharing!

  31. Alfonzo says:

    I am truly thankful to the holder of this website who has shared this wonderful
    piece of writing at at this time.

  32. Nicki says:

    Great weblog right here! Also your website rather a lot up fast!
    What host are you the usage of? Can I get your affiliate hyperlink for your host?
    I want my website loaded up as fast as yours
    lol

  33. Kathi says:

    I’m really impressed with your writing skills as well as with the layout on your
    blog. Is this a paid theme or did you modify it yourself?
    Either way keep up the excellent quality writing, it’s
    rare to see a great blog like this one these days.

  34. Stephany says:

    Terrific work! This is the kind of info that should be
    shared across the net. Disgrace on the search engines for no longer positioning
    this publish upper! Come on over and seek advice from my site .
    Thanks =)

  35. Vicente says:

    What’s up, the whole thing is going perfectly here and ofcourse every one is
    sharing data, that’s actually good, keep up writing.

  36. Una says:

    Excellent article. I am dealing with a few of these issues as well..

  37. Earlene says:

    Aw, this was an extremely good post. Taking the time and actual effort
    to produce a really good article… but what can I say… I procrastinate a lot and never manage to get nearly anything done.

  38. Maryann says:

    I am truly grateful to the owner of this web site who has shared this great post at at this time.

  39. Willis says:

    Hi there this is kind of of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually
    code with HTML. I’m starting a blog soon but have no coding skills so I wanted to get guidance
    from someone with experience. Any help would be enormously appreciated!

Leave a Reply

Your email address will not be published. Required fields are marked *

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates