Applicability Schedule -XIII of Companies Act to Pvt Ltd.Co.
This query is : Resolved
Nagarjunarao
(Querist)
14 June 2008
1.Whether the provisiions of Schedule-XIII of the Companies Act applies to a Private Limited Company
2.Whether a NRI Director of a Pvt.Ltd.co. be paid remunertion in Indian currency without obtaining any permission from RBI or Central Government for the services rendered outside.
2.Whether a NRI Director of a Pvt.Ltd.co. be paid remunertion in Indian currency without obtaining any permission from RBI or Central Government for the services rendered outside.
ADITI BIDASARIA
(Expert)
12 February 2011
Schedule XIII is not applicable to the Pvt. Ltd Company, it is applicable only to the public ltd. companies.
I think for making any payment to the person resident outside India, intimation to RBI is required. You dont need to take permission from the RBI, it can be done through automatic route.
I think for making any payment to the person resident outside India, intimation to RBI is required. You dont need to take permission from the RBI, it can be done through automatic route.
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