Section - 314 - Companies Act, 1956

Section - 314 - Director, etc., not to hold office or place of profit

Director, etc., not to hold office or place of profit.

314.

[(1) Except with the

[consent] of the company accorded by a special resolution,—

(a) no director of a company shall hold any office or place of profit, and

(b)

[no partner or relative of such director, no firm in which such director, or a relative of such director, is a partner, no private company of which such director is a director or member, and no director or manager of such a private company, shall hold any office or place of profit carrying a total monthly remuneration of

[such sum as may be prescribed],

except that of managing director or manager,] banker or trustee for the holders of debentures of the company,—

(i) under the company ; or.... To read the full section download the app from Google Play store