A parliamentary panel has recommended that salaries of chief executives should be capped and shareholders should have a say in managerial remunerations. The recommendation has been made by the panel on the new Companies Bill. The panel has asked the Corporate Affairs Ministry to develop a rational formula for managerial remunerations.The Parliamentary Standing Committee on Finance, presented its report on Companies Bill 2009 in the Lok Sabha in the recently concluded moon soon session of parliament. The panel has further suggested that in the event of established fraud or fudging of profits by the company, remuneration paid to the key managerial personnel may be recovered. The Committee's report has came after almost eight months of deliberation. Official sources said that the revised Companies Bill, which seeks to replace the half-a-century old Act, is expected to be tabled in Parliament in the winter session, or latest by the Budget session.