- A person aged 70 years or more can be appointed as MD, WTD or manager without passing the special resolution.
- No Approval of CG under section 197 in case of payment of Managerial remuneration exceeding limits, only SR would be enough subject to compliance with Schedule V.
- Reporting required by an auditor of the company on the compliance of provision of section 197.
- Other amendments made in provisions related to the calculation of profit under section 198.
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