Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

  • Connect
Jun 30, 2022

Guidelines on Compensation of KMPs and Senior Management in NBFCs

RBI, by its Circular dated April 29, 2022, as part of the framework for scale-based regulation for Non-Banking Financial Companies (‘NBFCs’), introduced guidelines (‘Guidelines’) on compensation of key managerial personnel (‘KMP’) and senior management in NBFCs (excluding NBFCs categorised under the ‘base layer’ and Government owned NBFCs), which Guidelines are intended to provide broad guidance to NBFCs and their Nomination and Remuneration Committees (‘NRCs’) in formulating their compensation policy. The Guidelines will come into effect from April 01, 2023.

The salient features of the Guidelines are as follows:

i.     Applicable NBFCs are required to each constitute an NRC as per the Companies Act to oversee the framing, reviewing and implementation of compensation policy of the NBFC and to ensure that the ‘fit and proper’ status of directors is maintained; and

ii.   The Guidelines set out principles for compensation, including the components, the composition of fixed pay, principles for variable pay, bonus and malus or a clawback applicable on the variable pay.

TAGS

SHARE

Subscribe

DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

RELATED READING

Inter Alia

Seven Judge Bench of SC Held That Unstamped or Inadequately Stamped Arbitration Agreement are Not Rendered Void or Void Ab Initio or Unenforceable

Jan 23, 2024 | Dispute Resolution
Inter Alia

SEBI Amends Guidelines on Anti-Money Laundering Standards and Combating Financing of Terrorism

Jan 23, 2024 | Regulatory & Securities
Inter Alia

New Criminal Law Bills Received President’s Assent

Jan 23, 2024 | Dispute Resolution