Office timing policy - employees who stay back late almost daily to finish work

The persons referred in the post are seniors. Their salary will be high.So they are out of POW Act.
Justice and equality will not go together.
In my previous company we allowed senior executives to come late,go early and sit late.In every month their short hours and excess hours are compared and still short if any as a pattern was deductedfrom salary..We saw some persons sitting late only to generate excess hours.They were monitored by MD and warned or it was reflected in their appraisals.

Dear All,
Thanks for the replies. i have got my answer what has to be one there is no set rule or law for this but we can have flexibility in our rules for seniors as we need.
Vaishali

Dear Vaishali, you have hit the nail on the head, as the saying goes. When I was on a management course a staff has quoted a saying "Rules are there to be bent like a cane and not to be broken like a twig". A twig once broken cannot be made whole, while a can when released after bending bounces back to its original shape.

Thanks to everyone who participated in this chat and helped me conclude this subject discussion.
Vaishali